Flat 15% tax on FD interest? SBI proposes major relief for bank depositors ahead of Budget 2027
State Bank of India moved higher.
· Business Today Mkts
SBI Research has proposed a flat 15% tax on fixed deposit interest across maturities, potentially benefiting depositors in higher tax brackets. The proposal aims to make bank deposits more attractive as household savings increasingly compete with equity investments.
The analysis
State Bank of India reported movement of 15%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.7% on the day at ₹970.25, and has returned -7.2% over three months. It sits 21% below its 52-week high. The banks sector has moved -7.4% over the same period, so State Bank of India is running 0.2 points ahead of its peers.
For State Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- In focus: State Bank of India (SBI) (SBIN), in Banks.
- Over three months: State Bank of India (SBI) -7.2% against Banks -7.4% (0.2 points ahead).
- Trading well above normal today: State Bank of India (SBI) at 2.8 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| State Bank of India (SBI)SBIN · Banks | ₹970.25 | -1.7% | +1.7% | -7.2% | -21.0% | 2.8× | — |
Banks
1M -2.7% · 3M -7.4%
State Bank of India (SBI)
Prices as of 3 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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