SBI has cut interest rates on short-term retail deposits by 15 basis points, effective July 15.
This is the third such rate cut in FY26, reflecting improved liquidity and RBI's policy easing.
Deposits between 46–179 days will now earn 4.90%, down from 5.05%.
For 180–210 days, the rate drops to 5.65%, and for 211 days to 1 y
ear, it's now 5.90%.
The rate for very short-term (7–45 days) deposits remains unchanged at 3.05%.
SBI had earlier cut savings account interest by 20 bps to 2.5% in June.
With shrinking margins and lower yields on loans, SBI aims to balance i
ts books.
So far in FY26, total short-term deposit rate cuts amount to 60 basis points.