SBI: Customers of the State Bank of India will see a reduction in their EMIs. However, the bank has also lowered the returns on fixed deposits (SBI FD) for certain tenures. These new FD rates will take effect on December 15th.
Which periods have had their FD rates cut?
The State Bank of India has decreased interest rates for fixed deposits that last more than two years but less than three years. For regular customers, the interest rate has dropped from 6.45 percent to 6.40 percent. Senior citizens will now see their rate go from 6.95 percent to 6.90 percent.
Additionally, SBI has lowered the interest rates on its Amrit Varsha Fixed Deposit (AMRIT VARSHA) for 444-day term deposits. The interest rate for general citizens has been cut from 6.60% to 6.40%. These new Amrit Varsha FD rates will also be effective from December 15, 2025. Currently, senior citizens earn 7.10 percent interest on the Amrit Varsha FD scheme, but this will be reduced to 6.95 percent. Super senior citizens will receive 7.10 percent interest under Amrit Varsha starting December 15th, down from 7.20 percent.
SBI has also lowered its MCLR
The State Bank of India has cut its MCLR by 5 basis points across all tenors. The one-year MCLR is now down from 8.75 percent to 8.70 percent.
The State Bank of India (SBI) has reduced interest rates by 0.25 percent, making loans more affordable for both existing and new borrowers. This decision follows the Reserve Bank’s cut of the repo rate by 0.25 percent this month. With this adjustment, SBI’s EBLR will decrease by 0.25 percent to 7.90 percent. The updated rates will be effective from December 15, 2025, as stated by SBI on Friday.