The State Bank of India (SBI) has cut its fixed deposit (FD) interest rates for both the general public and senior citizens, effective May 16, 2025. According to the website, SBI has reduced FD rates by 20 basis points (bps) across all tenors. The latest FD rate cut comes just a month after the previous FD rate cut on April 15, 2025.
Latest SBI FD rates after 20 bps cut
After a 20 bps reduction across all tenures, SBI offers FD interest rates between 3.30% and 6.70% per annum (without Special FD) for general citizens for amounts below Rs 3 crore.
Earlier, SBI offered interest rates between 3.50% and 6.9% per annum (without special FD deposit interest rates) for tenures ranging from 7 days to 10 years.
| Tenors | Existing Rates for Public w.e.f. 15/04/2025 | Revised Rates for Public w.e.f. 16/05/2025 |
| 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 and up to 10 years | 6.5 | 6.3 |
Source: SBI website
Amrit Vrishti Scheme: Special FD scheme of SBI
SBI has also cut the interest rate by 20 bps on its special FD scheme, Amrit Vrishti. According to the bank’s website, “The Amrit Vrishti scheme has a specific tenor of 444 days, which is also revised from 7.05% to 6.85% for the general public.”
Latest SBI FD interest rates for senior citizens
After a 20 bps reduction across all tenures, SBI offers an FD interest rate between 3.80 % and 7.30% per annum (including SBI Wecare deposits) for senior citizens with amounts below Rs 3 crore. The bank offers an interest rate between 4% and 7.50% (including SBI We Care) for senior citizens.
Amrit Vrishti interest rate for senior citizens
Senior Citizens are offered a rate of interest of 7.35% per annum on SBI’s special FD scheme. After revision, the super senior citizens (aged 80 years and above) are offered an interest rate of 7.45% per annum.
| Tenors | 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 | 4 | 3.8 |
| 46 days to 179 days | 6 | 5.8 |
| 180 days to 210 days | 6.75 | 6.55 |
| 211 days to less than 1 year | 7 | 6.8 |
| 1 Year to less than 2 years | 7.2 | 7 |
| 2 years to less than 3 years | 7.4 | 7.2 |
| 3 years to less than 5 years | 7.25 | 7.05 |
| 5 years and up to 10 years | 7.50* | 7.30* |
*Including additional premium of 50 bps under ”SBI We-care” deposit scheme.
SBI non-callable term deposit retail
This rate applies to non-callable retail term deposits with amounts starting from Rs 1.01 crore and up to less than Rs 3.00 crore.
| Tenors | General Public | Senior Citizen | ||
| 1 Year | 0.30% above Card Rate | 6.80% | 7.30% | |
| 2 Years | 0.40% above Card Rate | 7.10% | 7.60% | |
