SBI Latest FD Rates: The country's largest public sector bank, State Bank of India (SBI), has again given a big shock to its customers. The bank has cut interest rates on fixed deposits (FD) by 20 basis points (bps). This cut has become effective from May 16, 2025, and will be applicable for all periods. It will affect both general customers and senior citizens.

SBI Bank's new interest rates (SBI Latest FD Rates)-

Now, common citizens will get an annual interest rate of 3.30 percent to 6.70 percent on SBI FD, which was earlier from 3.50 percent to 6.90 percent. This cut will apply to FDs of less than Rs 3 crore and does not include special FD schemes.

Interest rates reduced for senior citizens-

SBI has also cut interest rates for senior citizens. Now they will get interest rates ranging from 3.80 percent to 7.30 percent, which includes the bank's special scheme, SBI WeCare Deposit. Earlier this rate was between 4 percent to 7.50 percent. These new rates of SBI will also be applicable for those senior citizens who are getting an FD of less than Rs 3 crore.

SBI Amrit Vrishti Scheme-
Now less interest will be available on SBI's special FD scheme, Amrit Vrishti Yojana. In this 444-day scheme, common citizens will now get 6.85% interest instead of 7.05% earlier. Senior citizens will get 7.35%, and super senior citizens above 80 years of age will get 7.45% annual interest.

State Bank of India (SBI) has cut fixed deposit (FD) rates for the second time in a month. Earlier, the rates were also reduced on 15 April 2025. This continuous reduction has come as a big blow to investors, especially retired people and senior citizens, who prefer FD as a safe investment. This is a matter of concern for them as it will affect their income.

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