The State Bank of India (SBI), the country’s largest public sector lender, has announced a revision in its Fixed Deposit (FD) interest rates effective from April 15, 2025, according to the bank’s website. The bank has cut interest rates by 10 basis points for select medium-term deposits, specifically in the 1 to 3-year range, applicable to both general customers and senior citizens. Alongside this revision, SBI has also reintroduced its special “Amrit Vrishti” FD scheme with modified rates for a 444-day tenure.The revised FD rates reflect a conservative rate-cutting approach by the SBI, likely in anticipation of potential monetary easing by the Reserve Bank of India (RBI).
Punjab National Bank (PNB) cuts FD interest rates on these tenures: Check details
After the revision, SBI offers interest rates between 3.50% and 6.9% (without special deposit) for tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rate between 4% to 7.50% (including SBI We care).
SBI has reduced interest rates on these tenures
For the general public, the rate for FDs with tenures ranging from 1 year to less than 2 years has been reduced from 6.80% to 6.70%, while for FDs with tenures from 2 years to less than 3 years now have an interest rate of 6.90%, down from the earlier 7.00%.Canara bank cuts FD rates by up to 20 bps: Check latest rates
Senior citizens FD interest rates
For senior citizens, the rate of interest for fixed deposits with tenures from 1 year to less than 2 years has been revised downward from 7.30% to 7.20%, and the interest rate has been cut from 7.50% to 7.40% for FDs with tenures ranging from 2 years to less than 3 years.These reductions reflect a minor shift in the bank’s deposit strategy, possibly aligning with the broader monetary policy decision to cut repo rate by 25 bps from 6.25% to 6%. The bank continues to offer an additional premium of 50 bps under “SBI We-care” deposit scheme.
Latest SBI FD rates April 2025
| Tenors | Existing Rates for Public w.e.f. 15/06/2024 | Revised Rates for Public w.e.f. 15/04/2025 | Existing Rates for Senior Citizen w.e.f. 15/06/2024 | Revised Rates for Senior Citizen w.e.f. 15/04/2025 |
| 7 days to 45 days | 3.5 | 3.5 | 4 | 4 |
| 46 days to 179 days | 5.5 | 5.5 | 6 | 6 |
| 180 days to 210 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 211 days to less than 1 year | 6.5 | 6.5 | 7 | 7 |
| 1 Year to less than 2 years | 6.8 | 6.7 | 7.3 | 7.2 |
| 2 years to less than 3 years | 7 | 6.9 | 7.5 | 7.4 |
| 3 years to less than 5 years | 6.75 | 6.75 | 7.25 | 7.25 |
| 5 years and up to 10 years | 6.5 | 6.5 | 7.50* | 7.50* |
SBI Amrit Vrishti
The State Bank of India (SBI) has reintroduced its special Fixed Deposit scheme called “Amrit Vrishti”, featuring a specific tenor of 444 days by reducing the interest rate by 20 basis points. This scheme is effective from April 15, 2025. The scheme now offers a higher rate of interest of 7.05% per annum (p.a) for general citizens. Senior citizens are being offered 50 basis points at 7.55% p.a.
“The specific tenor scheme of “444 days” (Amrit Vrishti) at Rate of Interest 7.05 % is effective from 15th April 2025 and Senior Citizens are offered a rate of interest of 7.55%. Super Senior Citizens are offered a Rate of Interest 7.65%.” w.e.f. 15.04.2025.”
Earlier, the same scheme offered a higher rate of interest of 7.25% p.a. to customers. Senior citizens were being offered 50 basis points more interest rate at 7.75%.
