SBI gave a big blow to crores of customers, now they will get this much interest

Breaking News, Digital Desk-  (SBI Latest FD Rates) The country's largest public sector bank, State Bank of India (SBI) has again given a big shock to its customers. 

The bank has cut interest rates on fixed deposits (FD) by 20 basis points (bps). This reduction has become effective from May 16, 2025 and will be applicable for all time periods. It will affect both general customers and senior citizens.

SBI Bank's new interest rates (SBI Latest FD Rates)- 

Now common citizens will get annual interest rate of 3.30 percent to 6.70 percent on SBI FD, which was earlier 3.50 percent to 6.90 percent. This reduction will be applicable on FDs of less than Rs 3 crore and special FD schemes are not included in it.

Reduced interest rates for senior citizens-

SBI has also reduced interest rates for senior citizens. Now they will get interest rates ranging from 3.80 percent to 7.30 percent, which includes the bank's special scheme SBI WeCare Deposit. 

Earlier this rate was between 4 percent to 7.50 percent. These new rates of SBI will also be applicable for those senior citizens who are making FDs of less than Rs 3 crore.

SBI Amrit Vrishti Scheme-

SBI's special FD scheme Amrit Vrishti Yojana will now offer less interest. In this 444-day scheme, ordinary citizens will now get 6.85% interest instead of 7.05% earlier. Senior citizens will get 7.35% and super senior citizens above 80 years of age will get 7.45% annual interest.

Interest rates were also reduced in April-

State Bank of India (SBI) has cut fixed deposit (FD) rates for the second time in a month. Earlier, rates were also reduced on 15 April 2025. 

This continuous cut has come as a big blow to investors, especially retired people and senior citizens, who prefer FD as a safe investment. This is a matter of concern for them as it will affect their income.