State Bank of India (SBI), India’s largest public sector bank, has recently revised its Fixed Deposit (FD) interest rates. As of May 16, 2025, the bank has reduced its FD rates by 20 basis points across all tenures. This change applies to both general customers and senior citizens.
When it comes to safe and reliable investment options, SBI fixed deposit schemes continue to lead the way. With competitive returns, flexible tenures, and the backing of India’s largest public sector bank, these deposits remain a popular choice among investors. This article covers the updated SBI fixed deposit interest rates, key features, and tools like the SBI fixed deposit calculator to help you make informed decisions.
Why SBI Cut Fixed Deposit Interest Rates?
Effective May 16, 2025, the State Bank of India (SBI) revised its fixed deposit interest rates, cutting them by 20 basis points (0.20%) across multiple tenures. This change affects both regular deposits and special schemes like the Amrit Vrishti FD.
The rate cut follows the Reserve Bank of India’s recent monetary policy decision. As a result, SBI has aligned its deposit rates accordingly to manage liquidity and inflation.
Latest SBI Fixed Deposit Interest Rates (Below ₹3 Crore)
Despite the rate cut, SBI fixed deposit interest still remains competitive, especially for senior citizens and those opting for longer tenures.
The following table shows the latest interest rates for regular and senior citizens:
SBI FD Interest Rates May 2025 (Effective May 16, 2025)
| Tenure | General Public | Senior Citizens |
|---|---|---|
| 7 days to 45 days | 3.30% | 3.80% |
| 46 days to 179 days | 5.30% | 5.80% |
| 180 days to 210 days | 6.05% | 6.55% |
| 211 days to less than 1 year | 6.30% | 6.80% |
| 1 year to less than 2 years | 6.50% | 7.00% |
| 2 years to less than 3 years | 6.70% | 7.20% |
| 3 years to less than 5 years | 6.55% | 7.05% |
| 5 years to up to 10 years | 6.30% | 7.30% |
| 444 days (Amrit Vrishti) | 6.85% | 7.35% |
*Includes an additional 50 bps under the SBI We-Care scheme for senior citizens.
Special Notes:
- Amrit Vrishti Scheme: This special 444-day FD scheme now offers 6.85% for the general public and 7.35% for senior citizens.
- Super Senior Citizens: Individuals aged 80 years and above receive an additional 10 basis points over the senior citizen rate.
- Tax Saving FD: Offers 6.30% for the general public and 7.30% for senior citizens.
- Minimum Deposit: ₹1,000.
- Maximum Deposit: Up to ₹3 crore for retail domestic term deposits.
- Interest Compounding: Quarterly.
- Premature Withdrawal: Permitted with applicable penalties.
Special SBI FD Schemes
In addition to regular deposits, SBI offers attractive interest rates through special schemes:
Amrit Kalash (444 Days)
- General Public: 6.85%
- Senior Citizens: 7.35%
This scheme is ideal for those looking for a mid-term, high-interest option.
Non-Callable Deposits (₹1.01 Cr to < ₹3 Cr)
These deposits cannot be withdrawn prematurely, and therefore offer better returns:
- 1 Year:
- General: 6.80%
- Senior Citizens: 7.30%
- 2 Years:
- General: 7.10%
- Senior Citizens: 7.60%
Benefits for Senior & Super Senior Citizens
To encourage savings among the elderly, SBI offers additional benefits:
- SBI We-Care Scheme: Senior citizens get an extra 50 basis points for FDs above 5 years.
- Super Senior Citizens (80+ years): Eligible for an additional 10 bps over the senior citizen rate.
Hence, SBI FDs are not only safe but also rewarding for senior depositors.
Key Features of SBI Fixed Deposits
Here are some features that make SBI FDs a preferred savings option:
- Minimum Deposit: ₹1,000 only
- Tenure Range: 7 days to 10 years
- Interest Payout: Monthly, quarterly, or at maturity
- Loan Facility: Available against the FD
- Tax-Saving Option: 5-year FDs qualify under Section 80C of the Income Tax Act
Moreover, customers can open FDs online through SBI’s YONO app or Net Banking portal.
Penalty on Premature Withdrawals
While SBI FDs offer flexibility, withdrawing early may attract penalties:
- Up to ₹5 lakh: 0.50% penalty
- Above ₹5 lakh: 1% penalty
- Before 7 days: No interest is paid
Therefore, it is advisable to plan your FD tenure wisely.
SBI Fixed Deposit Calculator: Plan Your Investment
To make financial planning easier, SBI offers a fixed deposit calculator on its official website. This tool helps you:
- Estimate your maturity amount
- Compare returns across tenures
- Choose between interest payout options
To use the SBI fixed deposit calculator, you simply enter your deposit amount, tenure, and payout preference. The calculator instantly shows your total interest and maturity value.
You can try the official SBI FD calculator here: SBI FD Calculator
SBI Fixed Deposit Calculator May 2025
Conclusion
The recent cut in SBI FD interest rates may impact short-term investors, but overall, SBI continues to offer reliable and stable returns. With a wide range of schemes, easy digital access, and tools like the SBI fixed deposit calculator, you can confidently invest your money for steady growth.
Before you invest, consider your financial goals, tenure preferences, and tax obligations. And if you’re a senior citizen, don’t miss out on the additional interest benefits.
For more updates on SBI fixed deposit interest, bookmark our blog and stay informed.
Frequently Asked Questions – SBI FD Interest Rates
As of May 2025, SBI FD interest rates range from 3.30% to 7.10% per annum, depending on the tenure and whether you are a senior citizen.
The highest interest rate offered is 7.10% per annum for senior citizens on a 5-year fixed deposit.
Yes, senior citizens receive an additional 0.50% interest on most fixed deposit tenures over and above the regular rates.
You can use the SBI Fixed Deposit Calculator on the bank’s website or any trusted blog to calculate interest based on amount, tenure, and compounding frequency.
The minimum amount required to open an SBI Fixed Deposit is ₹1,000. There is no upper limit for investment.
Yes, TDS is applicable if the interest earned in a financial year exceeds ₹40,000 (₹50,000 for senior citizens), as per the Income Tax Act.
Yes, premature withdrawal is allowed, but it may attract a penalty of 0.50% to 1% on the applicable interest rate.