There is bad news for those who have FD in SBI. The bank has once again reduced the interest on fixed deposits.
After three consecutive cuts in the repo rate by the Reserve Bank of India (RBI), banks have reduced the interest on FDs significantly. However, this trend has not stopped yet. The country’s largest bank, State Bank of India (SBI), has once again reduced the interest rates on FDs. According to the bank’s website, FD interest rates for tenures ranging from 46 days to less than 1 year have been reduced by 15 basis points (0.15%). The revised FD rates have come into effect from today, i.e. July 15, 2025.
How much interest rates have been reduced for which period
SBI has reduced the interest rate from 5.05% to 4.90% for general citizens for a period of 46 days to 179 days. The FD interest rate for the period of 180 days to 210 days has been reduced from 5.80% to 5.65%. For the period of 211 days to less than 1 year, the bank has reduced the interest rate for general citizens from 6.05% to 5.90%.
Shock to senior citizens too
In the case of senior citizens too, the bank has cut FD rates by 15 basis points. The bank has reduced the interest rate on FDs for a period of 46 days to 179 days for senior citizens from 5.55% to 5.40%. The interest rate on FDs for a period of 180 days to 210 days has been reduced from 6.30% to 6.15%. For the period of 211 days to less than 1 year, the bank has reduced the interest rate for senior citizens from 6.55% to 6.40%.
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