Business Desk – SBI Cuts FD Interest Rates: If you are planning to get SBI FD (Fixed Deposit) or have already got FD in the bank, then it is important for you to know the change in interest rates. State Bank of India (SBI) has cut interest rates on Bulk Term Deposit for certain periods.
These new rates have come into effect from August 15, 2026. However, this change has not happened on all FDs. Long term bulk FD interest rates have been kept the same as before.
SBI reduced interest on which FDs?
SBI has reduced the interest rates on some short tenure bulk fixed deposits of Rs 3 crore or more. That is, there is no effect of this change in the rates of FD of normal amount. The bank has reduced the interest on bulk FD from 7 days to 179 days by 25 basis points (0.25%).
At the same time, the interest rate on bulk term deposits of 180 days to 210 days has been reduced by 10 basis points (0.10%). There has been no change in the interest rates on bulk FDs with tenures longer than this.
SBI's new bulk FD interest rates
7 to 14 days: Earlier 4.50% interest was available, now 4.25% will be available.
15 to 45 days: Interest rate reduced from 5% to 4.75%.
46 to 179 days: Earlier the rate was 5.10%, which has now reduced to 4.85%.
180 to 210 days: The interest rate has been reduced from 5.60% to 5.50%.
There has been no change in the interest rates of bulk fixed deposits for the subsequent periods. That means the cut has mainly affected Short Term Bulk FD.
Senior citizens will also get less interest
SBI has also cut interest rates for senior citizens on short-term bulk FDs with amounts of Rs 3 crore or more. Interest on FD of 7 to 14 days has reduced from 5% to 4.75%.
Similarly, the rate on FD of 15 to 45 days has reduced from 5.50% to 5.25%, while on FD of 46 to 179 days it has reduced from 5.60% to 5.35%. The interest rate on FD of 180 to 210 days has reduced from 6.10% to 6%.
Who will not be affected?
This change is specifically for Bulk Term Deposit of Rs 3 crore or more. Therefore, if your FD amount is less than Rs 3 crore, then these changes will not have a direct impact on your FD interest rate. Also, there has been no change in the rates of long term bulk FD.
New rates are applicable from August 15
These changed interest rates of SBI have become effective from 15 August 2026. Therefore, if you are preparing to make a short term FD of a large amount, then definitely check the latest SBI FD Rates applicable before investing. Especially for senior citizens, it is important to keep the new rates in mind.