New Delhi: The country’s largest public sector lender, State Bank of India, has slashed its interest rates on retail term deposits, i.e., fixed deposit rates. The new rates are applicable effective 16th May for both the public and senior citizens. The revised FD rates are applicable to the fixed deposits under Rs 3 crore. The interest rate of the specific tenor scheme of Amrit Vrishti (444 days) has also been revised, effective 16th May 2025. The scheme is for both senior citizens and super senior citizens. The revised interest rates are 6.85%.
SBI offers interest in the range between 3.5 percent and 6.3 percent across tenures for deposits under Rs 3 crore. These rates are applicable to the general public, whereas for the senior citizens, the interest lies in the range between 4 percent and 7.3 percent.
On a tenure between 7 and 45 days, the bank offers 3.5 percent per annum for the general public, whereas for a senior citizen, it pays an interest rate of 4 percent per annum. Similarly, for a tenure between 180 and 210 days, the bank pays an interest of 6.25 percent per annum for the general public; although, for senior citizens, it is 6.75 percent per annum. For the maximum tenure of 5 and 10 years, the interest rate stands at 6.3 percent for the general public, and for senior citizens, it stands at 7.3 percent per annum.
SBI FD rates
| Tenors | Existing Rates for Public w.e.f. 15/04/2025 | Revised Rates for Public w.e.f. 16/05/2025 | Existing Rates for Senior Citizen w.e.f. 15/04/2025 | Revised Rates for Senior Citizen w.e.f. 16/05/2025 |
| 7 days to 45 days | 3.5 | 3.3 | 4 | 3.8 |
| 46 days to 179 days | 5.5 | 5.3 | 6 | 5.8 |
| 180 days to 210 days | 6.25 | 6.05 | 6.75 | 6.55 |
| 211 days to less than 1 year | 6.5 | 6.3 | 7 | 6.8 |
| 1 Year to less than 2 years | 6.7 | 6.5 | 7.2 | 7 |
| 2 years to less than 3 years | 6.9 | 6.7 | 7.4 | 7.2 |
| 3 years to less than 5 years | 6.75 | 6.55 | 7.25 | 7.05 |
| 5 years and up to 10 years | 6.5 | 6.3 | 7.5 | 7.3 |
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