Sat Dec 13 18:20:00 UTC 2025: Summary:

State Bank of India (SBI) has reduced interest rates on term deposits for both the general public and senior citizens across various tenures, effective December 15, 2025. This follows the Reserve Bank of India’s (RBI) decision to cut the repo rate. The reductions impact deposits under ₹3 crore, particularly those with a two to three-year tenure. The bank has also revised its MCLR and EBLR rates downward.

News Article:

SBI Cuts Deposit and Lending Rates Following RBI Repo Rate Reduction

Mumbai, December 15, 2025 – The State Bank of India (SBI), the nation’s largest lender, has announced a reduction in interest rates for term deposits and lending rates, effective today. The move comes on the heels of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) unanimously voting to lower the repo rate by 25 basis points to 5.25%.

For deposits under ₹3 crore, SBI has decreased interest rates across various tenures. Notably, rates for deposits with a term of two to three years have been reduced from 6.45% to 6.40% for the general public and from 6.95% to 6.90% for senior citizens. The special “Amrit Vrishti” scheme with a 444-day tenure now offers 6.45% interest, down from 6.60%.

General public can earn between 3.05% and 6.30% depending on the tenor. Senior citizens can earn up to 7.05%

In addition to deposit rates, SBI has also lowered its Marginal Cost of Funds-based Lending Rate (MCLR). Overnight and one-month MCLR rates are down to 7.85%, while the three-month MCLR is now 8.25%. Longer-term rates have also been adjusted, with the one and two-year MCLR at 8.70% and the three-year MCLR at 8.80%.

The External Benchmark Linked Rate (EBLR), which is linked to floating interest rate loans, has also been reduced from 8.15% to 7.90%.

These revisions reflect SBI’s response to the broader economic environment and the RBI’s efforts to stimulate growth. Customers are advised to check the bank’s website or visit their local branch for the complete details of the revised rates.

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