The State Bank of India (SBI) reduced its fixed deposit interest rates once again. This time, SBI has reduced its FD rates by 15 basis points on various tenures for both senior citizens and the general category. Both private and public banks have been trimming their deposit rates after the RBI cut the repo rate sharply by 50 basis points in June 2025.
SBI FD Interest Rates:
General Category:
SBI has cut rates by 15 basis points to 4.90% on 46 days to 179 days tenure from earlier 5.05%. While rates are lowered to 5.65% on 180 days to 210 days tenure from 5.80%, and at 5.90% on 211 days to less than 1 year from the previous 6.05%.
Rates were kept unchanged in the other tenures. SBI will continue to offer 6.25% on 1 Year to less than 2 years; 6.45% on 2 years to less than 3 years; 6.30% on 3 years to less than 5 years; and 6.05% on 5 years and up to 10 years. On the lowest tenure of 7 days to 45 days, SBI continues to offer 3.05%.
Senior Citizens:
To the elderly, SBI is going to offer a 5.40% rate on 46 days to 179 days tenure, which is lower by 15 basis points from the previous 5.55%. The rate will be 6.15% on 180 days to 210 days tenure from the earlier 6.30%, and at 6.40% on 211 days to less than 1 year tenure from the previous 6.55%.
Similarly, rates are kept unchanged on other tenures. The rate continues to 6.75% on 1 Year to less than 2 years, at 6.95% on 2 years to less than 3 years, and at 6.80% on 3 years to less than 5 years tenure. SBI is offering its highest rate of 7.05% on 5 years and up to 10 years tenure to senior citizens. On the shortest tenure of 7 days to 45 days, the bank is giving 3.55%.
The new rates have come into effect from July 15, 2025.
SBI Amrit Vrishti:
As per SBI's website, the interest rate of the specific tenor scheme of "Amrit Vrishti"(444 days) has also been revised from 6.85% to 6.60% w.e.f. 15 June 2025. Senior Citizens and Super Senior Citizens are eligible for their additional benefits at the rate of interest.
Super Senior Citizen Benefits:
SBI said that an additional benefit of 10 bps is applicable for Super Senior Citizens (80 years and above) over the interest rate applicable for senior citizens. The scheme is not applicable to Recurring Deposit Scheme, Green Rupee Term Deposit, Tax Savings Scheme 2006, MODS, Capgain Scheme and Non-Callable Term Deposits.
Here are the features of the fixed deposit scheme at SBI:
- Minimum period of deposit - 7 days
- Maximum period of deposit- 10 Years
- Available at all branches
- Minimum deposit amount Rs. 1,000/-
- Maximum deposit amount: No Upper Limit
- A deposit of Rs. 2 crore and more is classified as a bulk deposit
- Interest on a Term Deposit is payable to the depositor quarterly from the date of issue or at maturity, along with principal. But on request from the depositor, interest may be paid at monthly, half-yearly or yearly intervals in case of Term Deposits fixed for a term of twelve months and above.
- Nomination available in favour of an individual only
- TDS is applicable as per the Income Tax Rules. Form 15G/15H can be submitted by the depositor for exemption from tax deduction as per the IT Rules
- Transferability is allowed among all SBI branches.
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