SBI FD Interest Rates Cut for Bulk Deposits: Check New Rates for 7 Days to 10 Years
If you're considering investing in an SBI fixed deposit (FD), this update is important. The country's largest public sector bank, State Bank of India (SBI), has cut interest rates on bulk term deposits of INR 3 crore and above for a limited period. The bank's new interest rates are effective from August 15, 2026.
If you're considering investing in an SBI fixed deposit (FD), this update is important. The country's largest public sector bank, State Bank of India (SBI), has cut interest rates on bulk term deposits of INR 3 crore and above for a limited period. The bank's new interest rates are effective from August 15, 2026. However, interest rates on fixed deposits of several tenures haven't been reduced, with rates on some larger, longer-term FDs remaining unchanged.
SBI FD Rates Reduced by 25 Basis Points
SBI has reduced the interest rate by 25 basis points, or 0.25 per cent, on FDs of INR 3 crore or more for tenors ranging from seven days to 179 days. This means customers making new FDs during this period will receive lower interest rates than before. The change is significant for customers who make large deposits in a short period, so it is worth checking the new rates before making an FD. SBI’s INR 8,813 Crore Dividend Boosts Government Finances, Nirmala Sitharaman Receives Cheque.
SBI FD Interest Rates on Amount Above INR 3 Crore
| Duration | Old Rates (General Public) | New Rates (General Public) | Old Rates (Senior Citizens) | New/Revised Rates (Senior Citizens) |
|---|---|---|---|---|
| 7 days to 14 days | 4.50% | 4.25% | 5.00% | 4.75% |
| 15 days to 45 days | 5.00% | 4.75% | 5.50% | 5.25% |
| 46 days to 179 days | 5.10% | 4.85% | 5.60% | 5.35% |
| 180 days to 210 days | 5.60% | 5.50% | 6.10% | 6.00% |
| 211 days to less than 1 year | 5.60% | 5.60% | 6.10% | 6.10% |
| 1 year to less than 2 years | 6.25% | 6.25% | 6.75% | 6.75% |
| 2 years to less than 3 years | 6.15% | 6.15% | 6.65% | 6.65% |
| 3 years to less than 5 years | 6.00% | 6.00% | 6.50% | 6.50% |
| Up to 5 years and 10 years | 6.00% | 6.00% | 6.50% | 6.50% |
Reduction in Interest Rates on FDs of 180 to 210 Days
The bank has also reduced interest rates on FDs with maturities of 180 to 210 days, with the reduction for this period standing at 10 basis points, or 0.10 per cent. However, interest rates for FDs ranging from 211 days to 10 years have remained unchanged, meaning the previous interest rates will continue to apply for deposits with these maturities. SBI Hiring in India: Chairman CS Setty Confirms Recruiting of 16,000 Employees Every Fiscal and Plans To Open 200 to 300 New Branches in FY26.
FD Interest Rates for Senior Citizens Also Affected
This change by SBI will also affect FDs held by senior citizens. The interest rate for senior citizens has been reduced by 0.25 per cent for FDs with maturities of 7 days to 179 days and by 0.10 per cent for FDs with maturities of 180 to 210 days. However, the interest rate for senior citizens on FDs with maturities of 211 days to 10 years remains unchanged.
The new rates will apply not only to new bulk FDs but also to renewals of maturing FDs. So, if you have a large value FD that's about to mature and are planning to redeposit it, be sure to check the applicable interest rate at renewal.
1% Penalty for Premature Withdrawal
SBI has also clarified the rules for premature withdrawals from bulk deposits. A 1 per cent penalty will apply for premature withdrawals from bulk FDs of all tenors, and this rule applies to both new deposits and renewal FDs. Meanwhile, SBI has stated that it has revised the cash withdrawal charges, effective October 1, 2026.
(The above story first appeared on LatestLY on Aug 21, 2026 12:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).