India’s largest public sector lender, State Bank of India (SBI), has lowered the interest rates on certain short-term fixed deposit (FD) tenures by 15 basis points (bps). The revised rates come into effect from July 15, 2025, and apply to tenures ranging from 46 days to less than 1 year.

Revised FD rates for general citizens

SBI has reduced FD rates for three short-term tenures. According to an ET report, for deposits maturing in 46 to 179 days, the rate has been cut from 5.05% to 4.90%. For 180 to 210 days, the new rate is 5.65%, down from 5.80%. Deposits with tenures of 211 days to less than 1 year will now earn 5.90%, compared to the earlier 6.05%.

FD rate cut also applies to senior citizens

Senior citizens will see a parallel 15 bps cut on the same short-term tenures. For 46 to 179 days, the interest rate is now 5.40%, down from 5.55%. Tenures from 180 to 210 days will now fetch 6.15%, while FDs of 211 days to less than 1 year have been reduced to 6.40% from the earlier 6.55%.

Updated SBI FD interest rate chart (as of July 15, 2025)

*Includes additional premium of 50 bps under the “SBI We-care” deposit scheme.Source: ET report

Super senior citizens get added benefit

Under the SBI Patrons scheme, super senior citizens (aged 80 years and above) are eligible for an additional 10 bps over the applicable senior citizen FD rates. This benefit is not applicable to schemes such as Recurring Deposit Scheme, Green Rupee Term Deposit, Tax Savings Scheme 2006, MODS, Capgain Scheme, and Non-Callable Term Deposits.

Special scheme: Amrit Vrishti FD

SBI also continues to offer the Amrit Vrishti fixed deposit scheme with a tenure of 444 days. The interest rate on this deposit is 6.60% for general customers as of June 15, 2025. For senior citizens, the interest rate is 7.10%, while super senior citizens receive 7.20%.