Archive · 2 Jun 2025
SBI Cuts Fixed Deposit Interest Rates by 20 Basis Points
Imagine you put money in a special savings account called a fixed deposit (FD) at SBI.
SBI is lowering the amount of interest they pay on this account.
This means you'll earn a little less money on your savings.
This is happening because the main bank of India, the RBI, has lowered its interest rates too.
So, SBI is making similar changes to its own rates.
They've also reduced the interest on a special FD called Amrit Vrishti.
Regular folks now get lower rates, and seniors get lower rates too.
SBI has reduced its fixed deposit (FD) interest rates by 20 basis points across all tenors.
The rate cut, effective May 16, 2025, is the second in a month, following the previous reduction on April 15.
SBI's move follows the Reserve Bank of India (RBI) cutting the repo rate.
FD interest rates now range from 3.30% to 6.70% for the general public and 3.80% to 7.30% for senior citizens.
The special FD scheme, Amrit Vrishti, also saw rate reductions to 6.85% for the general public and 7.35% for senior citizens.
- Who
- State Bank of India (SBI) is reducing fixed deposit (FD) interest rates.
- What
- SBI has lowered interest rates on fixed deposits by 20 basis points across all tenors, including special schemes like Amrit Vrishti.
- When
- The revised rates came into effect on May 16, 2025.
- Where
- The changes apply to SBI fixed deposit accounts.
- Why
- SBI reduced rates in response to the Reserve Bank of India cutting the repo rate.
- Effective Date
- May 16, 2025
- Rate Cut
- 20 basis points across all tenors
- General Public FD Rates
- 3.30% to 6.70%
- Senior Citizen FD Rates
- 3.80% to 7.30%
- Amrit Vrishti Rate (General)
- 6.85%
- Amrit Vrishti Rate (Senior)
- 7.35%
