Reserve Bank of India (RBI) After three consecutive cuts in the repo rate, banks have reduced interest on FDs significantly. However, this series has not stopped yet. State Bank of India (SBI), the country’s largest bank, has once again reduced interest rates on FD. According to the bank’s website, FD interest rates from 46 days to 1 year have been reduced by 15 basis points (0.15%). The revised FD rates have come into force today, ie from July 15, 2025.
How much interest rates were reduced for which period
SBI has reduced the interest rate from 5.05% to 4.90% for ordinary citizens from 46 days to 179 days. The FD interest rate for a period of 210 days from 180 days has been reduced from 5.80% to 5.65%. For a period of less than 1 year from 211 days, the bank has reduced the interest rate for ordinary citizens from 6.05% to 5.90%.
Jerk to senior citizens too
In the case of senior citizens, FDI has cut FD rates by 15 basis points. The bank has reduced the interest rate from 5.55% to 5.40% for senior citizens from 46 days to 179 days. The interest rate on FD for a period of 210 days from 180 days has been reduced from 6.30% to 6.15%. For a period of less than 1 year from 211 days, the bank has reduced the interest rate for senior citizens from 6.55% to 6.40%.
Latest business news
