SBI new FD rates: Bank revises bulk deposit interest by up to 25 bps, keeps retail rates unchanged
State Bank of India (SBI) revised interest rates on bulk fixed deposits of Rs 3 crore and above, cutting rates by up to 25 basis points on select shorter tenures from August 15, 2026. The bank kept interest rates on retail fixed deposits below Rs 3 crore unchanged for both general and senior citizen customers.
- Aug 28, 2026,
- Updated Aug 28, 2026 5:10 AM IST
State Bank of India (SBI) has revised interest rates on domestic bulk fixed deposits of Rs 3 crore and above, cutting rates by up to 25 basis points (bps) on select tenures. The revised rates came into effect on August 15, 2026, according to the bank's website. SBI has, however, kept interest rates on retail fixed deposits below Rs 3 crore unchanged.
The rate cuts are concentrated in shorter-tenure bulk deposits. SBI has reduced rates by 25 bps on bulk deposits with tenures of seven days to 179 days, while the rate for deposits of 180 days to 210 days has been cut by 10 bps.
Interest rates on bulk deposits from 211 days to less than one year and longer tenures up to 10 years remain unchanged.
SBI bulk FD rates for general citizens
For general citizens, SBI's bulk FD rate for deposits of seven days to 14 days has been reduced from 4.50% to 4.25%. For 15 days to 45 days, the rate is now 4.75%, compared with 5% earlier.
The bank has cut the rate for deposits of 46 days to 179 days from 5.10% to 4.85%. For deposits of 180 days to 210 days, the rate has been reduced from 5.60% to 5.50%.
ALSO READ: Small Finance Bank FD rates cross 8%: Should you move money from SBI, HDFC Bank or ICICI Bank?
SBI has retained its rates for longer bulk deposit tenures. Deposits of 211 days to less than one year continue to earn 5.60%, while the rate for one year to less than two years remains at 6.25%.
For deposits of two years to less than three years, the interest rate is unchanged at 6.15%. Deposits of three years to less than five years and five years up to 10 years continue to earn 6%.
SBI FD interest rates: Before vs revised
| Tenure | General citizens – Earlier | General citizens – Revised | Senior citizens – Earlier | Senior citizens – Revised |
|---|---|---|---|---|
| 7–14 days | 4.50% | 4.25% | 5.00% | 4.75% |
| 15–45 days | 5.00% | 4.75% | 5.50% | 5.25% |
| 46–179 days | 5.10% | 4.85% | 5.60% | 5.35% |
| 180–210 days | 5.60% | 5.50% | 6.10% | 6.00% |
| 211 days– | 5.60% | 5.60% | 6.10% | 6.10% |
| 1– | 6.25% | 6.25% | 6.75% | 6.75% |
| 2– | 6.15% | 6.15% | 6.65% | 6.65% |
| 3– | 6.00% | 6.00% | 6.50% | 6.50% |
| 5–10 years | 6.00% | 6.00% | 6.50% | 6.50% |
Note: Revised rates are effective from August 15, 2026 and apply to domestic bulk deposits of Rs 3 crore and above.
Senior citizen bulk FD rates
SBI has made the same broad changes to bulk deposit rates for senior citizens. Rates for seven days to 179 days have been cut by 25 bps, while the rate for 180 days to 210 days has been reduced by 10 bps.
The rate for seven days to 14 days is now 4.75%, down from 5%. For 15 days to 45 days, senior citizens will earn 5.25%, compared with 5.50% earlier. The rate for 46 days to 179 days has been reduced from 5.60% to 5.35%.
For 180 days to 210 days, the rate has been cut from 6.10% to 6%.
Rates for longer tenures remain unchanged. Senior citizens continue to earn 6.10% for 211 days to less than one year, 6.75% for one year to less than two years and 6.65% for two years to less than three years. The rate is 6.50% for three years to 10 years.
The revised rates apply to fresh deposits and renewals of maturing deposits.
Retail FD rates remain unchanged
SBI has not changed interest rates on fixed deposits below Rs 3 crore. For general citizens, rates range from 3.05% to 6.40%, depending on the tenure. Senior citizens continue to earn between 3.55% and 7.05%.
The highest regular FD rate for general citizens is 6.40% on deposits of two years to less than three years. For senior citizens, the highest rate is 7.05% on five-year to 10-year deposits.
Premature withdrawal penalty
For bulk deposits, SBI has set a 1% premature withdrawal penalty across all tenures. The penalty applies to all new deposits, including renewals.
The latest revision therefore affects SBI customers placing Rs 3 crore or more in bulk deposits, while retail FD rates remain unchanged.
ALSO READ: Small finance bank FDs offer 8.10% vs SBI’s 6.45%: Is the extra 165 bps worth the risk?
State Bank of India (SBI) has revised interest rates on domestic bulk fixed deposits of Rs 3 crore and above, cutting rates by up to 25 basis points (bps) on select tenures. The revised rates came into effect on August 15, 2026, according to the bank's website. SBI has, however, kept interest rates on retail fixed deposits below Rs 3 crore unchanged.
The rate cuts are concentrated in shorter-tenure bulk deposits. SBI has reduced rates by 25 bps on bulk deposits with tenures of seven days to 179 days, while the rate for deposits of 180 days to 210 days has been cut by 10 bps.
Interest rates on bulk deposits from 211 days to less than one year and longer tenures up to 10 years remain unchanged.
SBI bulk FD rates for general citizens
For general citizens, SBI's bulk FD rate for deposits of seven days to 14 days has been reduced from 4.50% to 4.25%. For 15 days to 45 days, the rate is now 4.75%, compared with 5% earlier.
The bank has cut the rate for deposits of 46 days to 179 days from 5.10% to 4.85%. For deposits of 180 days to 210 days, the rate has been reduced from 5.60% to 5.50%.
ALSO READ: Small Finance Bank FD rates cross 8%: Should you move money from SBI, HDFC Bank or ICICI Bank?
SBI has retained its rates for longer bulk deposit tenures. Deposits of 211 days to less than one year continue to earn 5.60%, while the rate for one year to less than two years remains at 6.25%.
For deposits of two years to less than three years, the interest rate is unchanged at 6.15%. Deposits of three years to less than five years and five years up to 10 years continue to earn 6%.
SBI FD interest rates: Before vs revised
| Tenure | General citizens – Earlier | General citizens – Revised | Senior citizens – Earlier | Senior citizens – Revised |
|---|---|---|---|---|
| 7–14 days | 4.50% | 4.25% | 5.00% | 4.75% |
| 15–45 days | 5.00% | 4.75% | 5.50% | 5.25% |
| 46–179 days | 5.10% | 4.85% | 5.60% | 5.35% |
| 180–210 days | 5.60% | 5.50% | 6.10% | 6.00% |
| 211 days– | 5.60% | 5.60% | 6.10% | 6.10% |
| 1– | 6.25% | 6.25% | 6.75% | 6.75% |
| 2– | 6.15% | 6.15% | 6.65% | 6.65% |
| 3– | 6.00% | 6.00% | 6.50% | 6.50% |
| 5–10 years | 6.00% | 6.00% | 6.50% | 6.50% |
Note: Revised rates are effective from August 15, 2026 and apply to domestic bulk deposits of Rs 3 crore and above.
Senior citizen bulk FD rates
SBI has made the same broad changes to bulk deposit rates for senior citizens. Rates for seven days to 179 days have been cut by 25 bps, while the rate for 180 days to 210 days has been reduced by 10 bps.
The rate for seven days to 14 days is now 4.75%, down from 5%. For 15 days to 45 days, senior citizens will earn 5.25%, compared with 5.50% earlier. The rate for 46 days to 179 days has been reduced from 5.60% to 5.35%.
For 180 days to 210 days, the rate has been cut from 6.10% to 6%.
Rates for longer tenures remain unchanged. Senior citizens continue to earn 6.10% for 211 days to less than one year, 6.75% for one year to less than two years and 6.65% for two years to less than three years. The rate is 6.50% for three years to 10 years.
The revised rates apply to fresh deposits and renewals of maturing deposits.
Retail FD rates remain unchanged
SBI has not changed interest rates on fixed deposits below Rs 3 crore. For general citizens, rates range from 3.05% to 6.40%, depending on the tenure. Senior citizens continue to earn between 3.55% and 7.05%.
The highest regular FD rate for general citizens is 6.40% on deposits of two years to less than three years. For senior citizens, the highest rate is 7.05% on five-year to 10-year deposits.
Premature withdrawal penalty
For bulk deposits, SBI has set a 1% premature withdrawal penalty across all tenures. The penalty applies to all new deposits, including renewals.
The latest revision therefore affects SBI customers placing Rs 3 crore or more in bulk deposits, while retail FD rates remain unchanged.
ALSO READ: Small finance bank FDs offer 8.10% vs SBI’s 6.45%: Is the extra 165 bps worth the risk?