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 the period of 46 days to 179 days for general citizens. 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 from 6.05% to 5.90% for general citizens.
Shock to senior citizens too
In the case of senior citizens too, SBI has reduced the FD rates by 15 basis points. The bank has reduced the interest rate on FDs for the period of 46 days to 179 days for senior citizens from 5.55% to 5.40%. The interest rate on FDs for tenures of 180 days to 210 days has been reduced from 6.30% to 6.15%. For tenures of 211 days to less than 1 year, the bank has reduced the interest rate for senior citizens from 6.55% to 6.40%.
