SBI
State Bank of India (SBI) has once again shocked its customers. Actually, the bank has once again reduced interest on FD. Let us tell you that SBI has cut its fixed deposit (FD) interest rates for both common people and senior citizens, which has become effective from May 16, 2025. According to the bank’s website, SBI has cut 20 basis points (BPS) in FD rates in all periods. The last time on April 15, 2025, SBI reduced interest on FD. That is, the last FD rate has been cut for the second time after the cut.
Interest rates on FD after deduction
After 20 BPS deduction in all periods by SBI, for ordinary citizens for an amount of less than Rs 3 crore and 6.70% annually (without special FD) will give interest rates on FDs. Earlier, SBI was providing interest from 3.50% to 6.9% per year on FDs ranging from 7 days to 10 years.
Interest rates from 16 April 2025 from 7 days to 45 days from 7 days to 45% 3.3% 46 days from 5.5% 5.5% 5.3% 5.3% 180 days to 210 days from 6.25% 6.25% 6.05% 6.05% 6.5% 6.5% 6.3% 6.3% 6.3% 6.3% 6.7% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% from 7 days to 45 days from 16 April 2025 to 45 days from 7 days to 45 days from 5.5%. 6.75% 6.55% 5 years to 10 years 6.5% 6.3%
Special FD interest rates are also deducted
SBI has also cut the interest rate of 20 BPS on its special FD scheme Amrit Vrishti by 20 BPS. According to the bank’s website, “The specific period of Amrit Vrishti Yojana is 444 days, which has been revised from 7.05% to 6.85% for the general public.” The bank provides an interest rate between 4% to 7.50% (including SBI V Care) for senior citizens. Senior citizens are offered an interest rate of 7.35% per year on SBI’s special FD scheme. After the amendment, super senior citizens (aged 80 years and above) are offered an interest rate of 7.45% per year.
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