Let us tell you that the reduction in SBI FD interest rate has happened just a month after the last cut on April 15, 2025. Let us know how much SBI has cut on FD of which period.
SBI Fixed Deposit Interest Rate: If you are a customer of State Bank of India (SBI), then this news may disappoint you. Actually, SBI has cut its fixed deposit (FD) interest rates. This means that now bank customers will get less interest on the deposited money than before. The new interest rate is effective from May 16, 2025. Let us tell you that the FD interest rate cut has come just a month after the last cut on April 15, 2025. Let us know how much SBI has cut on FD of which period.
How much reduction
SBI has cut FD interest rates by 20 basis points (bps) for all periods. After this cut, SBI is paying interest between 3.30% and 6.70% per annum for an amount less than Rs 3 crore for general citizens. Earlier, SBI offered interest rates between 3.50% and 6.90% per annum for tenures ranging from 7 days to 10 years.
Cut in Amrit Vrishti Yojana also
For information, let us tell you that the country’s largest government bank SBI has also cut the interest rate on its special FD scheme Amrit Vrishti by 20 bps. According to the bank’s website, the typical period of Amrit Vrishti Yojana is 444 days, which has been revised from 7.05% to 6.85% for the general public.
Interest rate 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. The bank has also cut the interest rate of V-Care Deposit Scheme.
