State Bank’s ‘Interest’ Gift! Fixed Deposit Rates Hiked by 25 bps; Find Out Which Depositors Will See Higher Earnings..

At a time when many banks are lowering their Fixed Deposit (FD) interest rates, the State Bank of India (SBI) has hiked interest rates on bulk deposits (over ₹3 crore) by 25 basis points (bps), while keeping rates unchanged for FDs under ₹3 crore. According to the bank's website, these new rates came into effect on March 15, 2026. Let's take a look at SBI's latest Fixed Deposit interest rates.

For which tenures 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 and 179 days, the rate has been raised from 5.10% to 5.35%. For tenures ranging from 180 days to less than one year, the rate has been increased from 5.60% to 5.85%, while for deposits with a maturity period of one year to less than two years, the rate has been revised from 6.25% to 6.50%.

For senior citizens, the interest rate on FDs maturing between 46 and 179 days has been raised from 5.60% to 5.85%. For tenures ranging from 180 days to less than one year, the rate has been increased from 6.10% to 6.35%, while for deposits with a maturity period of one year to less than two years, the rate has been revised from 6.75% to 7%. 

SBI's Latest FD Interest Rates (Bulk Deposits)
Tenure | Existing Rates for Senior Citizens (Effective from 15/07/2025) | Revised Rates for Senior Citizens (Effective Date: 15/03/2026)
7 Days to 14 Days | 5 | 5
15 Days to 45 Days | 5.5 | 5.5
46 Days to 179 Days | 5.6 | 5.85
180 Days to 210 Days | 6.1 | 6.35
211 Days to Less than 1 Year | 6.1 | 6.35
1 Year to Less than 2 Years | 6.75 | 7
2 Years to Less than 3 Years | 6.65 | 6.65
3 Years to Less than 5 Years | 6.5 | 6.5
5 Years to 10 Years | 6.50 | 6.50

The revised interest rates will apply to new deposits and to the renewal of maturing deposits. The Bank stated that all other terms and conditions regarding Retail and Bulk Term Deposits will remain unchanged.

What is the penalty for premature withdrawal on SBI Bulk Deposits?
A penalty of 1% will be levied on premature withdrawals for Bulk Term Deposits across all tenures. This will apply to all new deposits, including renewals. This means that if an investor wishes to withdraw their deposit amount before the maturity period, the interest rate applicable to them will be 1% lower than the prevailing rate. 

SBI FD Interest Rates 2026 (For deposits of less than ₹3 Crore)
Tenure    Revised Rates for General Public (Effective from 15/12/2025)    Revised Rates for Senior Citizens (Effective from 15/12/2025)
7 days to 45 days    3.05    3.55
46 days to 179 days    4.9    5.4
180 days to 210 days    5.65    6.15
211 days to less than 1 year    5.9    6.4
1 year to less than 2 years    6.25    6.75
2 years to less than 3 years    6.4    6.9
3 years to less than 5 years    6.3    6.8
5 years to 10 years    6.05    7.05*

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