look news india
Shock for SBI Customers! The country’s largest government bank, State Bank of India (SBI) has given a big blow to its customers once again. The bank has cut the interest rates received on fixed deposits (FD). According to the information given on the bank’s official website, these new interest rates Applicable from 16 May 2025 Has been done SBI on the FD of almost all the periods 20 basis points (BPS) That is, a cut of 0.20%. This deduction will apply to common customers as well as senior citizens.
SBI’s new FD rates (for common citizens):
Now ordinary citizens on SBI’s FD 3.30% to 6.70% annual Interest will be available till Earlier this rate was between 3.50% to 6.90%. This deduction will be applied to FD of less than ₹ 3 crore and does not include some special FD schemes of the bank.
Interest rates were also low for senior citizens:
SBI has also reduced interest rates on FD for senior citizens. Now they From 3.80% to 7.30% Interest rates will be available. It also includes the bank’s special scheme ‘SBI Wekare Deposit’. Earlier this rate was between 4% to 7.50%. These new SBI rates will also apply to senior citizens who are getting FD less than ₹ 3 crore.
SBI Amrit Vrishti Yojana is also affected:
Interest rates have also been cut on the ‘Amrit Vrishti Yojana’, which is a special FD scheme of SBI. The duration of this scheme is 444 days. Now common citizens on this scheme 6.85% interest Will get, which was 7.05% earlier. Senior citizens under this scheme 7.35% The interest rate is being given. At the same time, super senior citizens (80 years or older) on this scheme 7.45% You will get annual interest.
There was also cut in April:
It is worth noting that SBI has cut FD rates for the second time within a month. Before the bank FD rate decrease on 15 April 2025 Was done This deduction made twice in a row is a major setback for investors that consider FD to be a safe means of their investment, especially retired people and senior citizens. This step may affect their regular income.
