Core Points - The State Bank of India (SBI) has updated interest rates for term deposits and revised MCLR and EBLR rates following a 25 basis points reduction in the repo rate by the Reserve Bank of India [1][6][7] Revised Deposit Rates - For deposits under ₹3 crore with a tenure of two to three years, the interest rate has been reduced from 6.45% to 6.40% for the general public and from 6.95% to 6.90% for senior citizens [2] - The specific tenor scheme "444 days", Amrit Vrishti, has seen a rate change from 6.60% to 6.45% [2] - The highest interest rates for deposits under ₹3 crore are now 6.05% for the general public and 7.05% for senior citizens, depending on the tenure [3] Interest Rates for General Public - Fixed deposits with tenures of 7 to 45 days earn 3.05%, while those for 46 to 179 days earn 4.90% [4] - For tenures of 180 to 210 days, the interest rate is 5.65%, and for 211 days to less than a year, it is 5.90% [4] - Deposits with a term of one year to less than two years yield 6.25%, and those with a term of three to less than five years yield 6.30% [4] - For deposits ranging from 5 to 10 years, the interest rate is 6.05% [4] Interest Rates for Senior Citizens - Senior citizens will earn 3.55% for deposits of 7 to 45 days and 5.40% for 46 to 179 days [5] - For tenures of 180 to 210 days, the rate is 6.15%, and for 211 days to less than a year, it is 6.40% [5] - Deposits lasting one year to less than two years provide 6.75%, while those with a three to five-year term yield 6.80% [5] - For deposits ranging from 5 to 10 years, senior citizens will receive 7.05% [5] Revised MCLR Rates - SBI has reduced the overnight and one-month MCLR rates from 7.90% to 7.85% [6] - The three-month MCLR has been cut from 8.30% to 8.25%, and the six-month MCLR from 8.65% to 8.60% [6] - 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% [6] Revised EBLR Rate - The External Benchmark Linked Rate (EBLR) has been reduced from 8.15% to 7.90% as of 15 December [7]

With the RBI’s 25-basis-point reduction in the policy repo rate, State Bank of India (SBI) has decided to selectively pare deposit rates. It will also snip the marginal cost of funds-based lending rate (MCLR) across the board.India’s largest bank will pare term deposit rate in the 2-year to less than 3-year maturity bucket by 5 basis points (bps) from 6.45 per cent to 6.40 per cent, leaving interest rates in other maturity buckets unchanged.Further, India’s largest bank has cut the interest rate of the spe ...

The country's largest lender State Bank of India (SBI) has reduced its lending rate by 25 basis points, following the Reserve Bank's policy rate cut, making loans cheaper for existing and new borrowers.With the latest round of reduction, the External Benchmark Linked Rate (EBLR) of SBI will come down by 25 basis points to 7.90%.The revised rates come into effect from December 15, 2025, SBI said in a statement.The rate reduction is in response to last week's RBI's decision to slash the key interest rate by 2 ...