At a time when many banks are reducing their fixed deposit (FD) interest rates, State Bank of India (SBI) has increased the interest rates on bulk deposits (above Rs 3 crore) by 25 basis points (bps), while there is no change in the rates for FDs below Rs 3 crore. According to the bank’s website, these new rates have come into effect from March 15, 2026. Let’s take a look at the latest fixed deposit interest rates of SBI.
For which periods has the bank increased FD interest rates?
SBI has increased its fixed deposit interest rates by 25 basis points (bps) for select tenures. For deposits maturing between 46 days to 179 days, the rate has been increased from 5.10% to 5.35%. For deposits with maturity of 180 days to less than one year, the rate has been increased from 5.60% to 5.85%, while for deposits with maturity of one year to less than two years, the rate has been revised to 6.50% from 6.25%.
For senior citizens, the rate for FDs maturing between 46 to 179 days has been increased from 5.60% to 5.85%. For deposits with maturity from 180 days to less than one year, the rate has been increased from 6.10% to 6.35%, while for deposits with maturity from one year to less than two years, the rate has been revised to 7% from 6.75%.
SBI Latest FD Interest Rates (Bulk Deposit)
| Tenure | Current rates for senior citizens (15/07/2025 Effective from) | Revised rates for senior citizens (effective date) 15/03/2026 |
| 7 from day 14 Day | 5 | 5 |
| 15 from day 45 Day | 5.5 | 5.5 |
| 46 from day 179 Day | 5.6 | 5.85 |
| 180 from day 210 Day | 6.1 | 6.35 |
| 211 from day 1 less than a year | 6.1 | 6.35 |
| 1 since year 2 less than a year | 6.75 | 7 |
| 2 since year 3 less than a year | 6.65 | 6.65 |
| 3 since year 5 less than a year | 6.5 | 6.5 |
| 5 since year 10 by year | 6.50 | 6.50 |
The revised interest rates will be applicable on new deposits and renewal of maturing deposits. The bank said that all other terms and conditions of retail and bulk term deposits will remain the same.
What is the penalty for premature withdrawal of SBI bulk deposit?
Premature withdrawal of bulk term deposits of all tenors will attract a penalty of 1%. This will be applicable to all new deposits, including renewals. This means that if an investor wants to withdraw his deposit before the maturity period, the interest rate he gets will be 1% less than the applicable rate.
SBI FD Interest Rates 2026 (on deposits less than Rs 3 crore)
| Tenure | Revised rates for general public (15/12/2025 Effective from) | Revised rates for senior citizens (15/12/2025 Effective from) |
| 7 from day 45 Day | 3.05 | 3.55 |
| 46 from day 179 Day | 4.9 | 5.4 |
| 180 from day 210 Day | 5.65 | 6.15 |
| 211 from day 1 less than a year | 5.9 | 6.4 |
| 1 since year 2 less than a year | 6.25 | 6.75 |
| 2 since year 3 less than a year | 6.4 | 6.9 |
| 3 since year 5 less than a year | 6.3 | 6.8 |
| 5 since year 10 by year | 6.05 | 7.05* |
| *In this “SBI We-care” under deposit scheme 50 bps Includes additional premium of Rs.. | ||