SBI Cuts Interest Rates on Fixed Deposits: Effective from April 15, 2025
14 Apr, 2025 17:01 IST|Sakshi Post
The State Bank of India (SBI), the largest public sector lender in the country, has announced a revision in its Fixed Deposit (FD) interest rates, effective from April 15, 2025. As per the official statement on the bank’s website, interest rates have been reduced by 10 basis points for select medium-term deposits, particularly for tenures in the 1 to 3-year range. The revised rates will apply to both general customers and senior citizens.
In addition to the rate cuts, SBI has also reintroduced its special "Amrit Vrishti" FD scheme with modified interest rates for a 444-day tenure, offering customers an opportunity to earn competitive returns on their investments.
Revised SBI FD Interest Rates
Following the revision, SBI will offer interest rates between 3.50% and 6.9% for standard Fixed Deposits (excluding special schemes) across tenures ranging from 7 days to 10 years. For senior citizens, the interest rates will range from 4% to 7.50%, including the exclusive "SBI We Care" scheme.
Key Changes in Medium-Term FD Rates
The interest rates for Fixed Deposits with tenures between 1 year and 3 years have been revised as follows:
- 1-year to less than 2 years: The rate has been reduced from 6.80% to 6.70% for general customers.
- 2 years to less than 3 years: The rate now stands at 6.90%, down from the previous 7.00%.
The rate revision reflects a more cautious approach by SBI, possibly in anticipation of monetary easing by the Reserve Bank of India (RBI) in the coming months.
Special FD Scheme – Amrit Vrishti
Alongside the interest rate adjustments, SBI has reintroduced its "Amrit Vrishti" Fixed Deposit scheme, specifically designed for a 444-day tenure. This special scheme comes with revised rates, offering customers a tailored option to lock in funds for a medium-term period at competitive interest rates.
Conclusion
The recent interest rate changes by SBI indicate a conservative rate-cutting approach, likely reflecting the broader economic environment and expectations of potential monetary easing by the RBI. Customers can explore various FD schemes offered by the bank, including the special "Amrit Vrishti" FD, to make informed investment decisions that suit their financial goals.
For further details, customers are encouraged to visit the official SBI website or contact their nearest branch.
