State Bank of India cuts bulk FD rates for 3cr
Business
State Bank of India (SBI) just lowered interest rates for bulk fixed deposits of ₹3 crore and above, starting August 15, 2026.
If you have or plan to open a large fixed deposit (FD) with them, expect up to a 0.25% drop in returns for certain time periods.
The good news? Regular FDs under ₹3 crore aren't affected at all.
Short-term bulk FD cuts affect seniors
The biggest cuts are for short-term bulk deposits: 7-14 days now earn 4.25%, and 46-179 days get 4.85%. For slightly longer terms (180-210 days), the rate drops a bit to 5.5%.
Senior citizens see similar changes, with their short-term rates also down by 0.25%.
Regular depositors still get up to 6.4% (or even 7.05% if you're a senior citizen).
Heads up, there's still a 1% penalty if you withdraw your bulk deposit early!