SBI Fixed Deposit 2025: Latest Updates on Interest Rates, Schemes & Tenures

 

SBI (State Bank of India) offers various deposit schemes, including Fixed Deposits (FDs), Recurring Deposits (RDs), and other term deposit options, with interest rates ranging from 3.50% to 7.75% per annum, and senior citizens receiving an additional 0.50% interest. 

Discontinuation of Amrit Kalash FD Scheme

The State Bank of India (SBI) has discontinued its Amrit Kalash Fixed Deposit scheme as of April 1, 2025. This scheme previously offered interest rates of up to 7.60% per annum for a 400-day tenure.

Introduction of Amrit Vrishti FD Scheme :

Meanwhile, the Amrit Vrishti scheme will continue, providing interest rates up to 7.85% for super senior citizens over a 444-day term. Launched on July 15, 2024, Amrit Vrishti is a 444-day term deposit that currently provides a competitive interest rate of 7.25% per annum for regular investors. The special deposit terms offered under the Utsav Callable FD scheme will be available until April 30, 2025, in accordance with IDBI Bank's guidelines.The current interest rates for different tenure periods within the Utsav Callable FD scheme are subject to variation based on the duration and depositor category.

Interest Rates for Fixed Deposits:

·       For a 300-day deposit:

·       General depositors: 7.05%

·       Senior citizens and super senior citizens: 7.55%

·       For a 375-day deposit:

·       General depositors: 7.25%

·       Senior citizens: 7.75%

·       Super senior citizens: 7.90%

·       For a 444-day deposit:

·       General depositors: 7.35%

·       Senior citizens: 7.85%

·       Super senior citizens: 8.00%

Premature Withdrawal Facility:

Depositors have the option to withdraw or close their deposits before the maturity date.

SBI Wecare Deposit Scheme for Senior Citizens

SBI continues to offer the 'SBI Wecare' Senior Citizens' Term Deposit Scheme, providing an additional interest rate benefit for senior citizens on their term deposits. Senior Citizen Fixed Deposits (FDs) are term deposit plans with special interest rates offered to individuals who are over the age of 60. The rate of interest on senior citizen FDs in India ranges from 2. 50% to 8.25% for tenures ranging from less than 1 Year to more than 5 years.

Current Interest Rates on Retail Domestic Term Deposits

Senior Citizen Fixed Deposits (FDs) are term deposit schemes with special interest rates offered to individuals above 60 years of age. The interest rate on senior citizen FDs in India ranges from 2.50% to 8.25% for tenors ranging from 1 year to over 5 years.

Apart from an interest rate of 0.50% more than that offered to the general public, these fixed deposit accounts also offer a wide range of other benefits to senior citizens. The regular interest payment option will help them earn a steady and reliable income in their post-retirement years. They can also avail a loan against the FD if required. The 5-year tax-saving fixed deposit will help them save tax while earning additional interest.

Top Banks Offering Senior Citizen FD Interest Rates

Bank Name	Less than 1 year	1 year to 5 years	More than 5 years
SBI	4.00% p.a. to 7.00% p.a.	7.30 % p.a. - 7.25% p.a.	7.50% p.a.
HDFC Bank	3.50% p.a. - 6.50% p.a.	7.10% p.a. - 7.90% p.a.	7.50% p.a.
Canara Bank	4.00% p.a. to 6.75% p.a.	7.35% p.a. to 7.90% p.a.	7.20% p.a.
Punjab National Bank	4.00% p.a. - 7.30% p.a.	7.00% p.a. to 7.50% p.a.	7.15% p.a. to 7.30% p.a.
HSBC Bank	3.35% p.a. - 5.00% p.a.	3.75% p.a. to 7.50% p.a.	-

 Note: Interest rates are subject to change and may be revised by the bank without prior notice.

 As of the latest update, SBI's interest rates for retail domestic term deposits below ₹2 crore vary based on tenure and customer category. For the most accurate and up-to-date rates, customers are advised to refer to SBI's official website.  The popular Amrit Kalash FD, which offered up to 7.60% p.a. for 400 days, has officially been discontinued as of April 1, 2025. While investors appreciated the high return, SBI has now shifted focus to the new Amrit Vrishti scheme, which offers a longer tenure and similar returns. If you had invested in Amrit Kalash earlier, your FD will run until maturity. However, new investments are no longer accepted under this scheme.

 Please note that deposit schemes and interest rates are subject to change. For the most current information, always refer to the official State Bank of India website or contact your local branch.