The State Bank of India (SBI) has reduced interest rates on some of its fixed deposits. The new rates started from July 15.

What’s Changed?

SBI has cut interest rates by 0.15% (15 basis points) on FDs for tenors between 46 days and less than 1 year.

Here are the new FD rates for general customers:

• 46 to 179 days: now 4.90% (earlier 5.05%)
• 180 to 210 days: now 5.65% (earlier 5.80%)
• 211 days to less than 1 year: now 5.90% (earlier 6.05%)

Other Tenors – No Change

There is no change in interest rates for FDs with tenors of:

• 7–45 days,
• 1 year to 10 years

Senior Citizen Rates

Senior citizens will get 50 basis points (0.50%) more than the regular rates.

So, they now earn between 3.55% and 7.05%, depending on the FD period.

Current FD Rates for General Citizens (After July 15):

• 7–45 days: 3.00%
• 46–179 days: 4.90%
• 180–210 days: 5.65%
• 211 days–<1 year: 5.90%
• 1–2 years: 6.25%
• 2–3 years: 6.45%
• 3–5 years: 6.30%
• 5–10 years: 6.05%