State Bank of India (SBI), the country’s largest public sector bank, has once again disappointed its customers.
The bank has reduced the interest rates on most of its Fixed Deposits (FDs) by 0.20%. This change affects FDs with amounts less than ₹3 crore.
The new rates have been effective from May 16, 2025. This move follows a trend where most banks have been lowering their FD rates, influenced by the RBI’s recent repo rate cuts.
Current SBI FD Interest Rates
SBI offers FDs with tenures ranging from 7 days to 10 years. Here are the latest interest rates offered by SBI on Fixed Deposits:
7 to 45 days:
General Public: 3.50%
Senior Citizens: 4.00%
46 to 179 days:
General Public: 5.50%
Senior Citizens: 6.00%
180 to 210 days:
General Public: 6.05%
Senior Citizens: 6.55%
211 days to less than 1 year:
General Public: 6.30%
Senior Citizens: 6.80%
1 year to less than 2 years:
General Public: 6.50%
Senior Citizens: 7.00%
2 years to less than 3 years:
General Public: 6.70%
Senior Citizens: 7.20%
3 years to less than 5 years:
General Public: 6.55%
Senior Citizens: 7.05%
5 years to 10 years:
General Public: 6.30%
Senior Citizens: 7.30%
These rate changes come after the RBI’s repo rate cuts, and with the reduction, SBI continues to offer competitive interest rates, especially for senior citizens on longer-tenure FDs.
