SBI cuts FD, MCLR and EBLR rates after RBI’s repo cut by 25 basis points

Interest rates on loans have also been reduced, with the MCLR for all maturities reduced by 5 basis points, bringing the one-year MCLR to 8.70 percent. | Photo credit: NIHARIKA KULKARNI/Reuters

India’s largest bank will reduce interest rates on term deposits in the maturity segment of two years to less than three years by 5 basis points (bps) from 6.45 percent to 6.40 percent, leaving interest rates in other maturity segments unchanged.

Furthermore, India’s largest bank has reduced the interest rate of the specific maturity scheme of “444 days” – Amrit Vrishti, by 15 basis points from 6.60% to 6.45%.

The above tariff revisions are effective from December 15, 2025.

SBI has also reduced the marginal cost of fund-based lending rate (MCLR) by 5 basis points across the board. With this revision, the one-year MCLR will be 8.70 percent, against the existing 8.75 percent.

The External Benchmark Linked Rate (EBLR), which is automatically revised when the repo rate is revised, has been reduced from 8.15 percent to 7.90 percent. All retail and MSME loans are priced at EBLR.

Published on December 12, 2025