State Bank of India cuts interest rates on fixed deposits

State Bank of India (SBI) has reduced fixed deposit (FD) interest rates for 1-2 year tenures by 0.10%, effective April 15, 2025. The rate cut will impact earnings for both regular and senior citizen depositors. For a ₹5 lakh FD, returns could drop by ₹525 to ₹1,138 depending on the tenure. Investors must plan accordingly.