State Bank of India or SBI has introduced a new fixed deposit scheme dubbed “Utsav Deposit”, to mark 75 years of Independence, for 75 days. This FD plan will offer a 6.1 per cent return to its investors and is in effect from August 15, 2022. And as this scheme is valid for 75 days that offer will stand till October 30, 2022.
SBI Offers Utsav Deposit FD Scheme
According to SBI on Twitter, “A delightful offer especially for our customers to celebrate 75 years or Azadi. With ‘Utsav’ Deposit, get a higher interest rate on Fixed Deposits.”
“Bank has also introduced a specific tenor of “1000 days” at an ROI of 6.10 % w.e.f 15-Aug-2022 for 75 days,” as per the bank’s website.
SBI is offering the FD plans to have a tenure of 1000 days with an interest rate of 6.1 per cent every year under Utsav Fixed Deposit Scheme. Moreover, the senior citizens will be offered an extra 0.50 per cent over the benchmarked interest rate.
As for the regular citizens, SBI offers interest rates ranging from 2.90 per cent to 5.65 per cent for fixed deposits having tenure between 7 days to 10 years
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State Bank of India FD Rates Hiked
“SBI has increased the interest rates on select fixed deposit (FD) tenures by up to 15 bps. According to the bank’s website, the increased rates are effective from August 13, 2022, and are applicable for FDs worth less than Rs 2 crore. Following the adjustment, SBI will now offer fixed deposit interest rates ranging from 2.90% to 5.65% for the general public and 3.40% to 6.45% for senior citizens,” mentioned by economic times.
