SBI Lowers Short-Term Retail Deposit Rates by 15 bps, Effective July 15

State Bank of India (SBI) has adjusted interest rates on select short-term retail domestic fixed deposits, effective July 15, 2025. This is the 3rd such revision in the current financial year. The move comes amid improved banking system liquidity and recent changes to the RBI’s policy rates.

Updated Rates for the General Public 

The interest rate for deposits maturing in 46-179 days has been lowered to 4.90%, down from 5.05%. For tenures between 180-210 days, the revised rate is 5.65%, compared to the earlier 5.80%. Deposits from 211 days to less than a year will now earn 5.90%, reduced from 6.05%.

Senior Citizen Rate Adjustments

Senior citizens will see a uniform 15 basis point reduction across these short-term tenures. Deposits for 46-179 days now offer 5.40%, while the 180-210 day range offers 6.15%. For 211 days to less than a year, the new rate is 6.40%, revised from 6.55%.

No Changes to Other Tenures

Rates for other fixed deposit durations remain unchanged. The 1 to less than 2-year tenure offers 6.25% for the public and 6.75% for senior citizens. Deposits of 5-10 years carry a 6.05% rate for general customers and 7.05% for seniors, with the latter including a 50 bps premium under the “SBI We-care” scheme.

Read more: SBI to Launch ₹25,000 Crore QIP, Aiming for India’s Biggest QIP!

Schemes and Special Rates

The Amrit Vrishti FD scheme, which offers a 444-day tenure, continues to provide 6.60% to the public and 7.10% to senior citizens. Additionally, super senior citizens (80+) receive an extra 10 bps on top of regular senior citizen rates under the SBI Patrons scheme.

Conclusion

The revised rates reflect current liquidity trends and recent monetary policy adjustments. Customers can review updated tenures and rates via SBI's official platforms.

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