Archive · 20 Aug 2026
SBI Cuts Bulk FD Rates, Revises Savings Withdrawal Charges
SBI has changed some interest rates and account charges.
The interest-rate cuts apply only to large fixed deposits of Rs.
3 crore or more.
Several short-term deposits will now earn slightly less interest.
Most longer-term bulk deposit rates will stay the same.
Senior citizens will still receive an extra 0.50 percentage points on long-term bulk deposits.
People with regular retail fixed deposits below Rs.
3 crore are not affected by this rate change.
Basic Savings Bank Deposit Account customers will still get four free withdrawals each month.
After four withdrawals, each additional cash withdrawal will cost Rs.
15 plus GST.
Digital payments such as UPI and NEFT do not count toward the four-withdrawal limit.
SBI reduced interest rates on bulk term deposits of Rs. 3 crore and above for several short-term tenures.
The revised bulk FD rates take effect on August 15, 2026, while longer-tenure rates remain unchanged.
Senior citizens continue to receive an additional 0.50 percentage points on applicable bulk FD rates.
SBI will charge Rs. 15 plus GST for each BSBD cash withdrawal beyond four free withdrawals per month from October 1, 2026.
Retail term deposits below Rs. 3 crore and most other BSBD services remain unchanged.
- Who
- State Bank of India and its bulk FD, retail FD, and Basic Savings Bank Deposit Account customers.
- What
- SBI reduced selected bulk FD rates and revised charges for BSBD cash withdrawals beyond four free monthly withdrawals.
- When
- The bulk FD rate changes take effect on August 15, 2026; the BSBD charge changes take effect on October 1, 2026.
- Where
- The changes apply to relevant SBI deposits and accounts in India.
- Why
- The article reports the changes but does not state SBI's reason for making them.
- Affected bulk deposits
- Domestic bulk term deposits of Rs. 3 crore and above.
- Largest rate reduction
- Rates fell by 25 basis points for 7–14 days, 15–45 days, and 46–179 days.
- Highest general bulk FD rate
- 6.25% for deposits with tenures of one year to less than two years.
- Senior-citizen benefit
- Senior citizens receive a 0.50 percentage-point premium across long-term bulk FD tenures.
- BSBD free withdrawals
- Four withdrawals per month, including transfers and ATM transactions at SBI or other bank ATMs.
- Additional BSBD withdrawal fee
- Rs. 15 plus GST per cash withdrawal beyond the first four monthly withdrawals, from October 1, 2026.
- Unaffected retail deposits
- Domestic retail term deposits below Rs. 3 crore have not had their interest rates changed.