On the event of the country’s 76th year of Independence, celebrated as Azadi Ka Amrit Mahotsav, the biggest moneylender in the country, State Bank of India (SBI), presented an exceptional term deposit program called “Utsav Deposit.” This FD scheme has higher interest rates and is just accessible temporarily.
SBI has said through a tweet that “Let your funds accomplish the difficult work for you. Presenting ‘Utsav’ Deposit with higher interest rates on your Fixed Deposits!.”
On Utsav Fixed Deposit Scheme, SBI is offering an interest rate of 6.10% per annum on fixed deposits with a tenure of 1000 days. What’s more, senior residents will be qualified to get an extra interest rate of 0.50% well beyond the normal rate. These rates are compelling as of fifteenth August 2022 and the plan is substantial for a time of 75 days.
Interest rates on fixed deposits under ₹2 Cr were recently expanded at SBI. SBI declared the new interest rates on August 13, 2022, and because of the change, the bank expanded interest rates by 15 bps for different tenors. SBI expanded interest rates on fixed deposits maturing in 180 to 210 days from 4.40% to 4.55%.
SBI expanded interest rates from 5.30% to 5.45% for fixed stores with maturities of one year to under two years. The interest rate on deposits maturing in 2 years to under 3 years has expanded to 5.50% from 5.35%, while the interest rate on deposits maturing in 3 years to under 5 years has expanded from 5.45% to 5.60%. SBI expanded the interest rate on fixed deposits maturing in 5 years and as long as 10 years from 5.50% to 5.65%.
For senior residents, SBI has referenced on its site that “A unique “SBI Wecare” Deposit for Senior Citizens presented in the Retail TD section wherein an extra premium of 30 bps (over and over the current 50 bps as definite in the above table) will be paid to Senior Citizen’s on their retail TD for ‘5 Years or more’ tenor as it were. “SBI Wecare” deposit scheme ands broadened upto 30th September, 2022.”
