SBI cuts fixed deposit interest rates by 20 basis points across all tenors
The State Bank of India (SBI) has reduced its fixed deposit (FD) interest rates by 20 basis points (bps) across all tenors. The revised rates came into effect on May 16, 2025. This marks the second rate cut in just a month, following the previous reduction on April 15.
SBI’s move comes after the Reserve Bank of India (RBI) cut the repo rate in its latest monetary policy review. Since then, several banks have trimmed their FD rates.
New SBI FD rates (Below ₹3 crore)
| Tenor | Revised rate (general public) | Revised rate (senior citizen) |
|---|---|---|
| 7 days to 45 days | 3.30% | 3.80% |
| 46 days to 179 days | 5.30% | 5.80% |
| 180 days to 210 days | 6.05% | 6.55% |
| 211 days to less than 1 yr | 6.30% | 6.80% |
| 1 yr to less than 2 yrs | 6.50% | 7.00% |
| 2 yrs to less than 3 yrs | 6.70% | 7.20% |
| 3 yrs to less than 5 yrs | 6.55% | 7.05% |
| 5 yrs to 10 yrs | 6.30% | 7.30% |
SBI now offers FD interest rates between 3.30% and 6.70% for the general public and between 3.80% and 7.30% for senior citizens, excluding special deposit schemes.
Amrit Vrishti scheme also revised
SBI has also slashed rates on its special FD scheme, Amrit Vrishti. The interest rate for this 444-day deposit is now 6.85% for the general public, down from 7.05%.
ALSO READ | How the income tax return filing process may differ this year
For senior citizens, the rate has dropped to 7.35%.
ALSO READ | How to buy and renew insurance policies via WhatsApp