SBI Slashes FD Interest Rates for Short-Term Deposits: Check Latest Rates Here

India’s largest public sector bank, the State Bank of India (SBI), has delivered a blow to its crores of retail customers. The bank has reduced interest rates on certain short-term fixed deposits (FDs) by 15 basis points (0.15%), effective July 15, 2025. This change will affect both general customers and senior citizens.

If you are planning to invest in fixed deposits or already have short-term deposits with SBI, here’s what you need to know.

🔻 Which FD Tenures Are Affected?

SBI has revised interest rates downward on three short-term FD tenures. The revised rates apply to both general public and senior citizens.

• FD Tenure: 46 to 179 days

  • Old Rate: 5.05%

  • New Rate: 4.90%

• FD Tenure: 180 to 210 days

  • Old Rate: 5.80%

  • New Rate: 5.65%

• FD Tenure: 211 days to less than 1 year

  • Old Rate: 6.05%

  • New Rate: 5.90%

These changes might impact your short-term savings returns, especially if you’re planning to renew an FD in this range or open a new one.

📉 Latest SBI Fixed Deposit Interest Rates (As of July 15, 2025)

Below is the complete list of latest SBI FD rates for various tenures for general customers and senior citizens:

FD Tenure General Public Senior Citizens

7 to 45 days	3.05%	3.55%
46 to 179 days	4.90%	5.40%
180 to 210 days	5.65%	6.15%
211 days to < 1 year	5.90%	6.40%
1 year to < 2 years	6.25%	6.75%
2 years to < 3 years	6.45%	6.95%
3 years to < 5 years	6.30%	6.80%
5 years to 10 years	6.05%	7.05%*

*Senior citizens under the SBI WeCare Scheme get an extra 0.50% interest over the regular rates.

🧓 What Is SBI WeCare Scheme?

The SBI WeCare Scheme is designed exclusively for senior citizens and offers an additional 50 basis points (0.50%) on FD interest rates for tenures of 5 years and above. This scheme ensures higher returns and safety for elderly investors.

💡 Should You Still Invest in SBI FDs?

While the reduction in short-term FD rates may appear disappointing, SBI still offers competitive rates for medium to long-term FDs. Senior citizens especially continue to benefit from the WeCare scheme, making long-term investment an attractive option.

If you're looking for liquidity and safety, FD still remains a stable investment tool. However, you may want to compare returns with debt mutual funds or other small savings schemes before locking in your money.

✅ Key Takeaways:

• SBI has cut short-term FD rates (46 to 364 days) by up to 0.15%.

• New FD rates are effective from July 15, 2025.

• Senior citizens still enjoy up to 7.05% interest on long-term FDs.

• SBI WeCare scheme offers extra benefits for elderly investors.

📌 Plan your investments accordingly. If you are planning to invest in a short-term FD, it may be wise to re-evaluate your options, or go for a longer tenure to earn better returns.