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FD Rates: The country's largest bank, State Bank of India (SBI) has cut interest rates on fixed deposits (FD) with a tenure of 1 to 3 years. Along with this, the bank has restarted its Amrit Vrishti Scheme, but its interest rates have also been reduced. The new rate for general citizens is 7.05%, and for senior citizens, it is 7.55%.

State Bank of India is also cutting the interest rate by 10 basis points on tenures of 1 year to 3 years. This cut will apply to common citizens as well as senior citizens. Now, for tenures ranging from 1 year to less than 2 years, people will get interest of 6.70 percent instead of 6.80 percent. On the other hand, for tenures ranging from 2 years to less than 3 years, people will get an interest of 6.90 percent instead of 7 percent.

Amrit Vrishti Scheme coming again?

Amrit Vrishti Scheme is being restarted by the State Bank of India. This scheme ended on 31 March 2025. Under the Amrit Vrishti Scheme, people have to make an FD for 444 days.

Big cut of 20 basis points-

Under this scheme, common people were given 7.25 percent interest till 31 March 2025. At the same time, senior citizens used to get 7.75 percent interest on it. Now, when the bank is restarting it, the bank has cut it by 20 basis points. (bank fd news)

Interest rate reduced after repo rate reduction-
State Bank of India has cut its interest rates, which comes after the recent reduction in the repo rate by the Reserve Bank of India (RBI). Now SBI will pay interest ranging from 3.5% to 6.9% on normal fixed deposits (FD). Under the special FD scheme, Amrit Vrishti, customers will get 7.05% interest. RBI has recently reduced the repo rate by 25 basis points, bringing it down from 6.25% to 6%.

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