State Bank of India (SBI) has once again shocked its customers. Actually, the bank has once again reduced the 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 FD rates by 20 basis points (bps) across all tenures. Last time SBI reduced interest on FD on April 15, 2025. That is, the second cut has happened just a month after the last FD rate cut.
Interest rates on FD after reduction
After the 20 bps cut by SBI across all tenures, SBI will offer interest rates on FDs between 3.30% and 6.70% per annum (without special FDs) for general citizens for amounts less than Rs 3 crore. Earlier, SBI was offering interest ranging from 3.50% to 6.9% per annum on FDs with tenures ranging from 7 days to 10 years.
| Duration | Interest rates as on April 15 | Interest rates from April 16, 2025 |
| 7 days to 45 days | 3.5% | 3.3% |
| 46 days to 179 days | 5.5% | 5.3% |
| 180 days to 210 days | 6.25% | 6.05% |
| 211 days to less than 1 year | 6.5% | 6.3% |
| 1 year to less than 2 years | 6.7% | 6.5% |
| 2 years to less than 3 years | 6.9% | 6.7% |
| 3 years to less than 5 years | 6.75% | 6.55% |
| 5 years to 10 years | 6.5% | 6.3% |
Interest rates of special FDs also cut
SBI has also cut interest rate on its special FD scheme Amrit Vrishti by 20 bps. “The typical tenure of Amrit Vrishti scheme is 444 days, which has been revised to 6.85% from 7.05% for general public,” according to the bank’s website. The bank offers interest rates between 4% and 7.50% (including SBI We Care) for senior citizens. Senior citizens are offered an interest rate of 7.35% per annum on SBI’s special FD scheme. After the revision, super senior citizens (aged 80 years and above) are offered an interest rate of 7.45% per annum.
