Interest rates on several fixed deposit (FD) tenures have been lowered by as much as 0.20 percent by State Bank of India (SBI), the country’s biggest public sector bank. The revised rates, which apply to FDs under Rs 3 crore, entered into effect on May 16, 2025. Many banks dropped FD interest rates in response to the Reserve Bank of India’s (RBI) two consecutive repo rate cuts, which prompted this modification.

FD Short-Term Deposit Interest Rates

For short-term deposits lasting seven to forty-five days, SBI now offers the general public an interest rate of 3.50 percent and senior people an interest rate of 4.00 percent. For deposits placed between 46 and 179 days, regular consumers would earn 5.50 percent interest, while senior people will receive 6.00 percent.

FD Interest Rates for the Mid-Term

For FDs that last 180–210 days, the interest rate is 6.05 percent for the general public and 6.55 percent for senior persons. For tenures ranging from 211 days to less than a year, SBI offers ordinary depositors 6.30 percent and senior persons 6.80 percent.

Deposits lasting one year to less than two years now return 7.00% for elderly persons and 6.50% for the general public. The rates are 6.70 percent for FDs with two years and 7.20 percent for those with less than three years.

Interest rates for the long term

For deposits with durations ranging from three to less than five years, SBI offers the general public 6.55% and senior people 7.05%. For the longest tenure, which is five to 10 years, the bank has set its maximum interest rate, which is 6.30 percent for ordinary clients and 7.30 percent for senior people.

Given these revised rates, depositors—especially those who rely on fixed deposits for steady returns—may reconsider their investing strategies. Senior folks, however, continue to benefit from higher interest rates across all tenures.