diff --git a/cmd/site-replication.go b/cmd/site-replication.go
index ef7040c6e..9d7cc7436 100644
--- a/cmd/site-replication.go
+++ b/cmd/site-replication.go
@@ -934,12 +934,13 @@ func (c *SiteReplicationSys) PeerBucketConfigureReplHandler(ctx context.Context,
 			targets = targetsPtr.Targets
 		}
 		targetARN := ""
-		var updateTgt bool
+		var updateTgt, updateBW bool
 		var targetToUpdate madmin.BucketTarget
 		for _, target := range targets {
 			if target.Arn == ruleARN {
 				targetARN = ruleARN
-				if target.URL().String() != peer.Endpoint {
+				updateBW = peer.DefaultBandwidth.Limit != 0 && target.BandwidthLimit == 0
+				if (target.URL().String() != peer.Endpoint) || updateBW {
 					updateTgt = true
 					targetToUpdate = target
 				}
@@ -957,6 +958,9 @@ func (c *SiteReplicationSys) PeerBucketConfigureReplHandler(ctx context.Context,
 			if !peer.SyncState.Empty() {
 				targetToUpdate.ReplicationSync = (peer.SyncState == madmin.SyncEnabled)
 			}
+			if updateBW {
+				targetToUpdate.BandwidthLimit = int64(peer.DefaultBandwidth.Limit)
+			}
 			err := globalBucketTargetSys.SetTarget(ctx, bucket, &targetToUpdate, true)
 			if err != nil {
 				return c.annotatePeerErr(peer.Name, "Bucket target update error", err)
@@ -990,6 +994,7 @@ func (c *SiteReplicationSys) PeerBucketConfigureReplHandler(ctx context.Context,
 				Region:          "",
 				ReplicationSync: peer.SyncState == madmin.SyncEnabled,
 				DeploymentID:    d,
+				BandwidthLimit:  int64(peer.DefaultBandwidth.Limit),
 			}
 			var exists bool // true if ARN already exists
 			bucketTarget.Arn, exists = globalBucketTargetSys.getRemoteARN(bucket, &bucketTarget, peer.DeploymentID)
@@ -3606,17 +3611,17 @@ func (c *SiteReplicationSys) EditPeerCluster(ctx context.Context, peer madmin.Pe
 		admClient *madmin.AdminClient
 	)
 
-	if globalDeploymentID == peer.DeploymentID && !peer.SyncState.Empty() {
-		return madmin.ReplicateEditStatus{}, errSRInvalidRequest(fmt.Errorf("A peer cluster, rather than the local cluster (endpoint=%s, deployment-id=%s) needs to be specified while setting a 'sync' replication mode", peer.Endpoint, peer.DeploymentID))
+	if globalDeploymentID == peer.DeploymentID && !peer.SyncState.Empty() && !peer.DefaultBandwidth.IsSet {
+		return madmin.ReplicateEditStatus{}, errSRInvalidRequest(fmt.Errorf("a peer cluster, rather than the local cluster (endpoint=%s, deployment-id=%s) needs to be specified while setting a 'sync' replication mode", peer.Endpoint, peer.DeploymentID))
 	}
 
 	for _, v := range sites.Sites {
 		if peer.DeploymentID == v.DeploymentID {
 			found = true
-			if !peer.SyncState.Empty() && peer.Endpoint == "" { // peer.Endpoint may be "" if only sync state is being updated
+			if (!peer.SyncState.Empty() || peer.DefaultBandwidth.IsSet) && peer.Endpoint == "" { // peer.Endpoint may be "" if only sync state/bandwidth is being updated
 				break
 			}
-			if peer.Endpoint == v.Endpoint && peer.SyncState.Empty() {
+			if peer.Endpoint == v.Endpoint && peer.SyncState.Empty() && !peer.DefaultBandwidth.IsSet {
 				return madmin.ReplicateEditStatus{}, errSRInvalidRequest(fmt.Errorf("Endpoint %s entered for deployment id %s already configured in site replication", v.Endpoint, v.DeploymentID))
 			}
 			admClient, err = c.getAdminClientWithEndpoint(ctx, v.DeploymentID, peer.Endpoint)
@@ -3637,59 +3642,65 @@ func (c *SiteReplicationSys) EditPeerCluster(ctx context.Context, peer madmin.Pe
 	if !found {
 		return madmin.ReplicateEditStatus{}, errSRInvalidRequest(fmt.Errorf("%s not found in existing replicated sites", peer.DeploymentID))
 	}
+	var state srState
+	c.RLock()
 	pi := c.state.Peers[peer.DeploymentID]
+	state = c.state
+	c.RUnlock()
 	prevPeerInfo := pi
 	if !peer.SyncState.Empty() { // update replication to peer to be sync/async
 		pi.SyncState = peer.SyncState
-		c.state.Peers[peer.DeploymentID] = pi
 	}
 	if peer.Endpoint != "" { // `admin replicate update` requested an endpoint change
 		pi.Endpoint = peer.Endpoint
 	}
 
-	if admClient != nil {
-		errs := make(map[string]error, len(c.state.Peers))
-		var wg sync.WaitGroup
+	if peer.DefaultBandwidth.IsSet {
+		pi.DefaultBandwidth = peer.DefaultBandwidth
+		pi.DefaultBandwidth.UpdatedAt = UTCNow()
+	}
+	state.Peers[peer.DeploymentID] = pi
 
-		for i, v := range sites.Sites {
-			if v.DeploymentID == globalDeploymentID {
-				c.state.Peers[peer.DeploymentID] = pi
-				continue
-			}
-			wg.Add(1)
-			go func(pi madmin.PeerInfo, i int) {
-				defer wg.Done()
-				v := sites.Sites[i]
-				admClient, err := c.getAdminClient(ctx, v.DeploymentID)
-				if v.DeploymentID == peer.DeploymentID {
-					admClient, err = c.getAdminClientWithEndpoint(ctx, v.DeploymentID, peer.Endpoint)
-				}
-				if err != nil {
-					errs[v.DeploymentID] = errSRPeerResp(fmt.Errorf("unable to create admin client for %s: %w", v.Name, err))
-					return
-				}
-				if err = admClient.SRPeerEdit(ctx, pi); err != nil {
-					errs[v.DeploymentID] = errSRPeerResp(fmt.Errorf("unable to update peer %s: %w", v.Name, err))
-					return
-				}
-			}(pi, i)
+	errs := make(map[string]error, len(state.Peers))
+	var wg sync.WaitGroup
+
+	for dID, v := range state.Peers {
+		if v.DeploymentID == globalDeploymentID {
+			continue
 		}
-
-		wg.Wait()
-		for dID, err := range errs {
-			if err != nil {
-				return madmin.ReplicateEditStatus{}, errSRPeerResp(fmt.Errorf("unable to update peer %s: %w", c.state.Peers[dID].Name, err))
+		wg.Add(1)
+		go func(pi madmin.PeerInfo, dID string) {
+			defer wg.Done()
+			admClient, err := c.getAdminClient(ctx, dID)
+			if dID == peer.DeploymentID {
+				admClient, err = c.getAdminClientWithEndpoint(ctx, dID, pi.Endpoint)
 			}
+			if err != nil {
+				errs[dID] = errSRPeerResp(fmt.Errorf("unable to create admin client for %s: %w", pi.Name, err))
+				return
+			}
+			if err = admClient.SRPeerEdit(ctx, pi); err != nil {
+				errs[dID] = errSRPeerResp(fmt.Errorf("unable to update peer %s: %w", pi.Name, err))
+				return
+			}
+		}(pi, dID)
+	}
+
+	wg.Wait()
+	for dID, err := range errs {
+		if err != nil {
+			return madmin.ReplicateEditStatus{}, errSRPeerResp(fmt.Errorf("unable to update peer %s: %w", state.Peers[dID].Name, err))
 		}
 	}
 
 	// we can now save the cluster replication configuration state.
-	if err = c.saveToDisk(ctx, c.state); err != nil {
+	if err = c.saveToDisk(ctx, state); err != nil {
 		return madmin.ReplicateEditStatus{
 			Status:    madmin.ReplicateAddStatusPartial,
 			ErrDetail: fmt.Sprintf("unable to save cluster-replication state on local: %v", err),
 		}, nil
 	}
+
 	if err = c.updateTargetEndpoints(ctx, prevPeerInfo, pi); err != nil {
 		return madmin.ReplicateEditStatus{
 			Status:    madmin.ReplicateAddStatusPartial,
@@ -3732,6 +3743,9 @@ func (c *SiteReplicationSys) updateTargetEndpoints(ctx context.Context, prevInfo
 				bucketTarget := target
 				bucketTarget.Secure = ep.Scheme == "https"
 				bucketTarget.Endpoint = ep.Host
+				if peer.DefaultBandwidth.IsSet && target.BandwidthLimit == 0 {
+					bucketTarget.BandwidthLimit = int64(peer.DefaultBandwidth.Limit)
+				}
 				if !peer.SyncState.Empty() {
 					bucketTarget.ReplicationSync = (peer.SyncState == madmin.SyncEnabled)
 				}
@@ -3768,6 +3782,14 @@ func (c *SiteReplicationSys) PeerEditReq(ctx context.Context, arg madmin.PeerInf
 		p := c.state.Peers[i]
 		if p.DeploymentID == arg.DeploymentID {
 			p.Endpoint = arg.Endpoint
+			if arg.DefaultBandwidth.IsSet {
+				if arg.DefaultBandwidth.UpdatedAt.After(p.DefaultBandwidth.UpdatedAt) {
+					p.DefaultBandwidth = arg.DefaultBandwidth
+				}
+			}
+			if !arg.SyncState.Empty() {
+				p.SyncState = arg.SyncState
+			}
 			c.state.Peers[arg.DeploymentID] = p
 		}
 		if p.DeploymentID == globalDeploymentID {
diff --git a/go.mod b/go.mod
index 1f581ba38..186d0b9ec 100644
--- a/go.mod
+++ b/go.mod
@@ -49,7 +49,7 @@ require (
 	github.com/minio/dperf v0.5.0
 	github.com/minio/highwayhash v1.0.2
 	github.com/minio/kes-go v0.2.0
-	github.com/minio/madmin-go/v3 v3.0.19
+	github.com/minio/madmin-go/v3 v3.0.20
 	github.com/minio/minio-go/v7 v7.0.63
 	github.com/minio/mux v1.9.0
 	github.com/minio/pkg/v2 v2.0.2
diff --git a/go.sum b/go.sum
index 3016bcce7..65138c1ef 100644
--- a/go.sum
+++ b/go.sum
@@ -474,10 +474,10 @@ github.com/minio/highwayhash v1.0.2 h1:Aak5U0nElisjDCfPSG79Tgzkn2gl66NxOMspRrKnA
 github.com/minio/highwayhash v1.0.2/go.mod h1:BQskDq+xkJ12lmlUUi7U0M5Swg3EWR+dLTk+kldvVxY=
 github.com/minio/kes-go v0.2.0 h1:HA33arq9s3MErbsj3PAXFVfFo4U4yw7lTKQ5kWFrpCA=
 github.com/minio/kes-go v0.2.0/go.mod h1:VorHLaIYis9/MxAHAtXN4d8PUMNKhIxTIlvFt0hBOEo=
-github.com/minio/madmin-go/v3 v3.0.19 h1:iisPDalKxt0PWkIaKrcrTU5NhSrl5nxJEQzMXRFATls=
-github.com/minio/madmin-go/v3 v3.0.19/go.mod h1:B2EgtEGrfWx+AkXv+OAcS6IHwoIJcd1p75QfDPSPd6Q=
 github.com/minio/mc v0.0.0-20230922050746-ae05d451739b h1:oZ5XAtyKMFbMbxqShGA51/YD/YaW+B2BiBQI7rN2uFc=
 github.com/minio/mc v0.0.0-20230922050746-ae05d451739b/go.mod h1:+4OzbgOsVsKvdmLLjN47DKKyHiLJuT05m5qF9fAQWe4=
+github.com/minio/madmin-go/v3 v3.0.20 h1:Op+MzisvVUdTdWU2eH1PdaRMY8ia/hNmcWHHFQnTFoA=
+github.com/minio/madmin-go/v3 v3.0.20/go.mod h1:B2EgtEGrfWx+AkXv+OAcS6IHwoIJcd1p75QfDPSPd6Q=
 github.com/minio/md5-simd v1.1.2 h1:Gdi1DZK69+ZVMoNHRXJyNcxrMA4dSxoYHZSQbirFg34=
 github.com/minio/md5-simd v1.1.2/go.mod h1:MzdKDxYpY2BT9XQFocsiZf/NKVtR7nkE4RoEpN+20RM=
 github.com/minio/minio-go/v6 v6.0.46/go.mod h1:qD0lajrGW49lKZLtXKtCB4X/qkMf0a5tBvN2PaZg7Gg=