State Bank of India (SBI) has cut down the interest rates on Bulk Fixed Deposits. The revised rates are in effect since August 15, 2026. The changes affect short-term deposits of Rs 3 crore and more.
The interest rates for shorter-tenure Bulk deposits with maturities ranging from 7 days to 210 days have been cut down; beyond that, the interest rates remain unchanged.
For the general public, the interest rates decreased by 25 bps on bulk deposits with maturities ranging from 7 days to 179 days and by 10 bps for those from 180 days to 210 days.
Revised interest rates on Bulk Deposits for the general public range from 4.25 percent to 6.25 percent across the tenors.
New interest rates for senior citizens
The revision has also been implemented on bulk deposits for senior citizens. For senior citizens, the interest rates on FDs with maturities ranging from 7 days to 179 days have been reduced by 25 bps, and for FDs with a tenor of 180-210 days, the updated rates are down by 10 bps. However, the interest rates on bulk deposits with tenors ranging from 1 year to 10 years remain unchanged.
Senior citizens earn interest ranging from 4.75 percent to 6.75 percent following the revisions.
The existing deposits would earn the interest rate fixed at the beginning. The changes apply to fresh deposits and renewals of maturing deposits. Customers planning to invest in FDs or renew existing deposits are advised to check the updated rates and tenures.
Withdrawal limit and penalty
Withdrawal of the deposit before the maturity date incurs a penalty of 1 percent across all tenors. It also includes new deposits and deposits renewed following maturity.
SBI has also put a limit on the number of free withdrawals in a month. The bank would charge Rs 15, along with applicable GST, on every withdrawal beyond the threshold of four.
Interest rates on retail deposits
The interest rates for Fixed Deposits of less than Rs 3 crore would remain unchanged. The revision applies to deposits of Rs 3 crore and more and does not affect retail Fixed Deposits.
The interest rates on retail deposits for the general public range from 3.05 percent to 6.40 percent, whereas the FD interest rates for senior citizens start at 3.55 percent and go up to 7.05 percent.
