If you’ve got a large fixed deposit sitting with SBI, or you’re thinking about opening one, it’s worth pausing before you do. The bank quietly revised its FD interest rates on bulk term deposits that’s deposits of ₹3 crore and above starting August 15, 2026. It’s not a sweeping change, but if you fall into the bulk-deposit category, it does affect what you’ll earn, especially on shorter tenures.
So, What Actually Changed?
SBI trimmed rates on bulk deposits, but only for certain tenures. Here’s how it breaks down:
If your deposit falls anywhere between 7 and 179 days, you’re looking at a 25 basis point cut that’s 0.25% lower than before. For the 180 to 210 day range, the cut is smaller, just 10 basis points. And if you’re parking money for anything longer than 210 days, up to 10 years, good news: nothing’s changed there.
Once you add it all up, general customers with bulk deposits are now earning somewhere between 5.25% and 6.50%, depending on how long they’ve locked their money in. Senior citizens took the same hit 25 bps off the shorter bucket, 10 bps off the middle one but they’re still coming out ahead overall, with rates ranging from about 5.75% to 7%.
Does This Affect Your Everyday FD?
Probably not, and that’s the part worth breathing easy about. This cut is specific to bulk deposits anything ₹3 crore and above. If you’re a regular saver with a smaller deposit, your rate hasn’t moved an inch. SBI’s retail FD rates are still sitting at 3.05% to 6.40% for general customers, and senior citizens continue to get that extra 0.55–0.60% on top, pushing their top rate close to 7.05%.
Basically, this move is aimed at big depositors corporates, HNIs, that sort of money not someone walking into a branch to open a ₹2 lakh FD.
If Your FD Is Coming Up for Renewal, Read This
Here’s something a lot of people miss: this isn’t just about new deposits. If you’ve got a bulk FD that’s maturing soon and you’re planning to renew it, the new, lower rate applies to you too. It won’t just roll over at the old rate automatically. So before you reinvest, it’s worth checking the current rate card rather than assuming things stayed the same.
What Happens If You Withdraw Early
SBI’s also stuck to its existing rule on premature withdrawals a 1% penalty applies if you pull out a bulk deposit before it matures. This holds true across tenures, and it applies to renewed deposits as well. If there’s a chance you might need that money before the term ends, it’s a cost worth factoring in upfront rather than discovering it later.
Why Is SBI Doing This?
Banks usually tweak bulk deposit rates depending on how much liquidity they’re sitting on and how urgently they need funds. When a bank has enough money on hand, it doesn’t need to offer as much to attract more of it so rates on bulk deposits come down. The fact that SBI’s only touching the shorter tenures here suggests it’s comfortable on the funding front for now, at least in the near term.
What Should You Do Now?
If your deposit is under ₹3 crore, you don’t need to do anything this change simply doesn’t apply to you. If you do fall in the bulk-deposit bracket, just go in with the right expectations: fresh or renewed deposits between 7 and 210 days will now earn a little less than before. And no matter which bank you’re with, it’s always worth comparing rates before you renew smaller banks and NBFCs occasionally offer better returns on specific tenures than the big names. Just keep that 1% early withdrawal penalty in mind if there’s any chance you’ll need the money sooner than planned.
At the end of the day, the smartest move with an FD isn’t always chasing the highest number on offer it’s picking a tenure that actually matches how soon you might need that money back.
