After the Reserve Bank of India’s [RBI] latest repo rate updates, SBI has revised the interest rates for fixed deposits and savings accounts. Get all the details in our developing news story.
RBI’s recent repo rate update
In a bold step to boost economic growth, the Reserve Bank of India (RBI) cut the repo rate by 50 basis points in June 2025, lowering it to 5.5%. This reflects a cumulative 100 basis point drop since February, signalling a clear shift towards an accommodating monetary policy stance amid global trade uncertainty and declining domestic demand.
Changes implemented by SBI
The State Bank of India (SBI) followed the RBI's lead and revised its Repo Linked Lending Rate (RLLR) to 7.75% and its External Benchmark Lending Rate (EBLR) to 8.15%, effective June 15, 2025. Moreover, SBI reduced fixed deposit (FD) rates by 25 basis points across various tenures.