Archive · 28 Aug 2026
SBI Cuts Bulk Deposit Rates, Keeps Retail FD Rates Unchanged
State Bank of India changed the interest it pays on very large fixed deposits.
These are deposits of Rs 3 crore or more.
People investing for shorter periods will generally receive slightly less interest than before.
The biggest reduction is 25 basis points, or 0.25 percentage points.
Deposits lasting from 211 days to 10 years keep their earlier rates.
Senior citizens also received similar reductions on shorter bulk deposits.
Smaller fixed deposits below Rs 3 crore did not have their rates changed.
The new rates start on August 15, 2026, and apply to new deposits and renewed deposits.
State Bank of India reduced bulk-deposit rates by up to 25 basis points for several short-term tenures.
For general citizens, rates fell to 4.25% for seven to 14 days and 4.75% for 15 to 45 days.
Rates for 46 to 179 days declined to 4.85%, while 180 to 210 days fell to 5.50%.
Rates for bulk deposits from 211 days to 10 years remain unchanged, ranging from 5.60% to 6% for general citizens.
Retail deposits below Rs 3 crore were unaffected; revised bulk rates apply from August 15, 2026, to fresh deposits and renewals.
- Who
- State Bank of India and customers placing domestic bulk deposits, including general and senior citizens.
- What
- SBI revised interest rates on bulk fixed deposits while leaving retail FD rates unchanged.
- When
- The revised rates take effect on August 15, 2026.
- Where
- The changes apply to SBI domestic bulk deposits.
- Why
- SBI adjusted rates for bulk deposits of Rs 3 crore and above; the articles do not state a specific reason for the revision.
- Affected deposits
- Domestic bulk fixed deposits of Rs 3 crore and above
- Effective date
- August 15, 2026
- General-citizen short-term rates
- 4.25% for 7–14 days; 4.75% for 15–45 days; 4.85% for 46–179 days; 5.50% for 180–210 days
- General-citizen long-term rates
- 5.60% for 211 days to less than one year; 6.25% for one to less than two years; 6.15% for two to less than three years; 6% for three to 10 years
- Retail FD rates
- Unchanged for deposits below Rs 3 crore; general-citizen rates range from 3.05% to 6.40%
- Senior-citizen retail rates
- Unchanged and range from 3.55% to 7.05%
- Premature withdrawal penalty
- 1% across all bulk-deposit tenures, including new deposits and renewals