New Delhi: The State Bank of India (SBI) has reduced its fixed deposit (FD) interest rates with effect from May 16, 2025. The country’s largest public sector bank has slashed FD rates by 20 basis points (bps) across all tenors. The new rate of interest will be applicable on general and senior citizens. The bank had announced a cut in its FD interest rates on April 15, 2025.
With a 20 bps reduction across all Fixed Deposit tenures, now SBI will be offering FD interest rates between 3.30 percent and 6.70 percent per annum for amounts below Rs 3 crore. Senior citizens will be eligible to get 0.50 percent more. Earlier, the public sector lender had fixed the interest rates between 3.50% and 6.9% per annum for tenors ranging from 7 days to 10 years.
Interest Rates on Retail Domestic Term Deposits (Below Rs 3 crore)
| Tenor | General citizens (interest rate) | Senior citizens (interest rate) |
| 7 days to 45 days | 3.3 | 3.8 |
| 46 days to 179 days | 5.3 | 5.8 |
| 180 days to 210 days | 6.05 | 6.55 |
| 211 days to less than 1 year | 6.3 | 6.8 |
| 1 Year to less than 2 years | 6.5 | 7 |
| 2 years to less than 3 years | 6.7 | 7.2 |
| 3 years to less than 5 years | 6.55 | 7.05 |
| 5 years and up to 10 years | 6.3 | 7.30* |
SBI has also revised interest rate of specific tenor scheme of Amrit Vrishti (444 days) from 7.05 percent to 6.85 percent with effect from 16th May 2025. Senior Citizens and Super Senior Citizens are eligible for their additional benefits in rate of interest.
The SBI reduced its interest rates on Fixed Deposit schemes after the Reserve Bank of India (RBI) announced a repo rate cut in the first week of April 2025. The RBI cut the key interest rate by 25 basis points to 6 per cent providing relief to home, auto and corporate loan borrowers.
The State Bank of India (SBI) has revised its fixed deposit (FD) interest rates with effect from May 16, 2025. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
