SBI Slashes FD Rates Ahead of New Year 2026: Latest Domestic Term Deposits Rates Are In Force From Today

Interest rates on retail term deposits under Rs 3 Cr have been reduced by State Bank of India (SBI). According to the bank's official website, the revised interest rates on retail domestic term deposits go into effect on December 15, 2025. For regular citizens, the bank has lowered the FD interest rate for terms of two to less than three years by 5 basis points (bps), from 6.45% to 6.40%, while for senior citizens, the rate is lowered from 6.95% to 6.90%.

SBI Latest FD Rates 2025

The bank will continue to give an interest rate of 3.05% on term deposits with a term of 7 to 45 days, while SBI will continue to offer an interest rate of 4.90% on fixed deposits with a maturity period of 46 to 179 days. SBI FDs that mature in 180 to 210 days will still get an interest rate of 5.65%, while those that mature in 211 days to less than a year will now receive an interest rate of 5.90%.

Tenors	Existing Rates for Public w.e.f. 15/07/2025	Revised Rates for Public w.e.f.15/12/2025	Existing Rates for Senior Citizen w.e.f. 15/07/2025	Revised Rates for Senior Citizen w.e.f. 15/12/2025
7 days to 45 days	3.05	3.05	3.55	3.55
46 days to 179 days	4.9	4.9	5.4	5.4
180 days to 210 days	5.65	5.65	6.15	6.15
211 days to less than 1 year	5.9	5.9	6.4	6.4
1 Year to less than 2 years	6.25	6.25	6.75	6.75
2 years to less than 3 years	6.45	6.4	6.95	6.9
3 years to less than 5 years	6.3	6.3	6.8	6.8
5 years and up to 10 years	6.05	6.05	7.05*	7.05

SBI will continue to give an interest rate of 6.25% for fixed deposit tenures of one year to less than two years; however, for those that last from two years to less than three years, SBI has lowered the interest rate by five basis points, from 6.45% to 6.40%. The interest rate on SBI FDs that mature in three to less than five years will remain at 6.30%, while the interest rate on those that mature in five to ten years will remain at 6.05%.

Additionally, starting on December 15, 2025, the interest rate for the specific tenor plan of "Amrit Vrishti" (444 days) has been reduced from 6.60% to 6.45%.

Senior Citizens and Super Senior Citizens are eligible for their additional benefits over and above the general card rates.

Super Senior Citizens (80 years of age and above) are eligible for an additional benefit of 10 basis points over the senior citizen interest rate under SBI Patrons. Recurring Deposit Schemes, Green Rupee Term Deposits, Tax Savings Schemes 2006, MODS, Capgain Schemes, and Non-Callable Term Deposits are not eligible for the SBI Patrons plan.

SBI Interest Rates On Domestic Bulk Term Deposits (Rs. 3 Crores and above)

According to the bank's official website, the latest interest rates on "Domestic Bulk Term Deposits (Rs. 3 Crore and more)" can be found in the following table.

Revised Interest Rates w.e.f. 15-July-2025
Tenors	For Public	For Senior Citizen
7 days to 14 days	4.5	5
15 days to 45 days	5	5.5
46 days to 179 days	5.1	5.6
180 days to 210 days	5.6	6.1
211 days to less than 1 year	5.6	6.1
1 year to less than 2 years	6.25	6.75
2 years to less than 3 years	6.15	6.65
3 years to less than 5 years	6	6.5
5 years and up to 10 years	6	6.5

Both new deposits and renewals of maturing deposits will be subject to the revised interest rates. The remaining terms and conditions pertaining to bulk and retail term deposits will remain the same.

SBI Latest MCLR Rates

With effect from December 15, 2025, State Bank of India (SBI) has announced a reduction in its Marginal Cost of Funds Based Lending Rate (MCLR) for the majority of tenors, providing borrowers with some relief.

SBI has lowered the Overnight and One-Month MCLR from 7.90% to 7.85% in accordance with the revised structure, while the Three-Month MCLR is now 8.25% (formerly 8.30%).

The One-Year MCLR, a key benchmark for home and retail loans, has been reduced to 8.70% from 8.75%, while the Six-Month MCLR has been reduced to 8.60% from 8.65%. The Two-Year MCLR was reduced to 8.75% and the Three-Year MCLR to 8.80%.

This MCLR cut is positive for existing borrowers whose loans are linked to MCLR, particularly home loan, MSME, and corporate loan customers. Those linked to the one-year MCLR can expect a slight reduction in EMIs or loan tenure, depending on the reset terms.

New borrowers may also benefit from lower effective lending rates, making loans marginally cheaper. However, the impact will be limited for borrowers whose loans are linked to external benchmarks like the repo rate, as their interest rates depend more on RBI policy changes than MCLR movements.