India's largest bank, the State Bank of India, has updated interest rates for term deposits of specific tenures for both senior citizens and the general public, including MCLR and EBLR rates, starting Monday, 15 December 2025.
SBI's latest revision comes after the Reserve Bank of India’s six-member Monetary Policy Committee (MPC) unanimously voted to reduce the repo rate by 25 bps to 5.25% from 5.50%.
Revised rates
The bank has reduced the interest rates for deposits under ₹3 crore with a tenure of two to three years, from 6.45% to 6.40% for the general public and from 6.95% to 6.90% for senior citizens.
The interest rate of the specific tenor scheme of “444 days”, Amrit Vrishti, has been revised from 6.60% to 6.45%.
What is the highest interest rate?
For deposits of less than ₹3 crore, the bank will now offer interest rates of up to 6.05% for the general public and 7.05% for senior citizens, based on the tenure.
Interest rates for other tenures
General public
For fixed deposits with tenures ranging from 7 to 45 days, depositors can earn 3.05% and 4.90% for tenures of 46 to 179 days. For deposits with tenures of 180 to 210 days, depositors can earn 5.65 % and 5.9% interest for tenures of 211 days to less than a year. Deposits with tenure for one year to less than two years will fetch you 6.25% interest, while you can earn 6.30% interest on deposits with a term of three to less than five years. Depositors can earn 6.05% interest on deposits with terms ranging from 5 to 10 years. The bank offers multiple deposit options, with tenures ranging from 7 days to 10 years.
Senior citizens
Senior citizens will earn higher interest rates based on the tenure. For 7 to 45 days, the rate is 3.55%; for 46 to 179 days, it's 5.40%. Deposits of 180 to 210 days earn 6.15%, while those of 211 days to less than a year offer 6.40%. Deposits lasting one year to less than two years provide 6.75%, and those with a three to five-year term will fetch 6.80% interest. For deposits ranging from 5 to 10 years, senior citizens will get 7.05% interest.
Revised MCLR rates
In addition to term deposit rates, SBI has revised the Marginal Cost of Funds-based Lending Rate (MCLR), which represents the minimum interest rate for loans.
SBI's overnight and one-month MCLR rates have been cut from 7.90% to 7.85%. Three-month MCLR has been reduced from 8.30% to 8.25%. The six-month MCLR has been reduced from 8.65% to 8.60%. The one and two-year MCLR rates have been revised to 8.70% from 8.75%, while the three-year rate has been reduced from 8.85% to 8.80%.
Revised EBLR rate
SBI has reduced the External Benchmark Linked Rate (EBLR) from 8.15% to 7.90%, as of 15 December. EBLR is linked to floating interest rates for loans, typically tied to an external benchmark, such as the Reserve Bank of India's (RBI) Repo Rate.
