SBI lowers FD interest rates by 10 basis points for this two term starting today. Checking details | Mint

Within a week of Reserve Bank of India (RBI) which lowered its repo rate by 25 basis points, the largest bank in India – State Bank of India (SBI) – reduced its interest rate on fixed deposits (FDS) by 10 basis points. On a one -year FD, SBI Fixed Deposit (FD) cut with 10 basis points from 6.80 percent to 6.7 percent for general citizens. On an FD of two to three years, SBI reduced its FD interest rate from 7 percent to 6.9 percent. The interest rates entitled by senior citizens to receive fixed deposits (FDS) from 1-2 years will also fall from 7.3 percent to 7.20 percent. In a term of 2-3 years, senior citizens are entitled to receive 7.4 percent today instead of 7.5 percent earlier. The term stream (%) reviewed (%) 1-2 years 6.8 6.7 2-3 years 7 6.9 The specific tenor scheme of 444 days (Amrit Vrishti) at 7.05 percent interest rate is in force from April 15 and senior citizens are offered a rate of interest 7.55 percent. Super senior citizens are offered an interest rate of 7.65 percent. Other interest rates for other terms of office for other terms of office will remain the same. For an FD of the tenure between 7 to 45 days, the revised rate will still be 3.5 percent (4 percent for senior citizens). For 46 to 179 days, the revised rate will still be 5.5 percent (6 percent for senior citizens). For 180 to 210 days, the revised rate will remain 6.25 percent (general population) and 6.75 percent for senior citizens. For 211 days to less than one year, the revised rate is 6.5 percent for general citizens and 7 percent for senior citizens. On a 3-5 year FD, the state engineer offers 6.75 percent to general citizens and 7.25 percent to senior citizens. On an FD of 5-10 years, the state engineer offers 6.5 percent to general citizens and 7.5 percent to senior citizens. Visit here for all personal finance updates. First published: 15 Apr 2025, 09:13 AM IST