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.



๐Ÿ”ป 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.



๐Ÿ“‰ 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.




๐Ÿง“ 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.



๐Ÿ’ก 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.



โœ… 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.





๐Ÿ“Œ 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.

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