SBI cuts FD, MCLR and EBLR rates after RBI’s 25-bps repo reduction
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Lending rates have also eased, with the MCLR cut by 5 bps across all tenors, bringing the one-year MCLR to 8.70 per cent.
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NIHARIKA KULKARNI/Reuters
Following the Reserve Bank of India’s (RBI) decision to slash the policy repo rate by 25 basis points, State Bank of India (SBI) has announced reductions in select deposit rates alongside a decrease in its marginal cost of funds-based lending rate (MCLR).
The bank will trim deposit rates for the 2-year to under-3-year maturity bracket by 5 basis points, moving from 6.45% to 6.40%. Interest rates for other tenors will remain unchanged.
Additionally, SBI reduced the interest rate on its “Amrit Vrishti” 444-day special deposit scheme by 15 basis points, lowering it from 6.60% to 6.45%.
These revised rates will take effect starting December 15, 2025.
The bank has implemented a uniform 5 basis-point reduction across all MCLR tenors. Consequently, the one-year MCLR now stands at 8.70%, down from 8.75% previously.
SBI’s External Benchmark Linked Rate (EBLR) now decreases to 7.90% from 8.15%, reflecting the automatic adjustment linked to repo rate changes. This benchmark applies to all retail loans and MSME lending products.
Published on December 12, 2025
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