76th Independence Day: SBI launches Utsav fixed deposit scheme | Rare Techy


On the occasion of the nation’s 76th year of Independence, celebrated as Azadi Ka Amrit Mahotsav, the nation’s largest lender, State Bank of India (SBI), has introduced a unique time deposit program called “Deposit Utsav”. This fixed deposit scheme has higher interest rates and is available for a limited time only.

SBI tweeted that “Let your finances do the hard work for you. Introducing ‘Utsav’ Deposit with high interest rates on your Fixed Deposits!.”

On the Utsav Fixed Deposit Scheme, SBI offers an interest rate of 6.10% per annum on fixed deposits with tenure of 1000 days. And senior citizens will be entitled to an additional rate of 0.50% over the regular rate. These rates are effective from 15th August 2022 and the program is valid for a period of 75 days.

Interest rates on fixed deposits are as follows 2 Cr recently added to SBI. SBI has announced new interest rates on August 13, 2022, and as a result of the revision, the bank has increased interest rates by 15 bps for various tenors. SBI increased interest rates on fixed deposits of 180-210 days from 4.40% to 4.55%. SBI has increased interest rates from 5.30% to 5.45% for fixed deposits with a maturity of less than two years. The interest rate on deposits maturing in 2 years to less than 3 years has increased from 5.50% to 5.35%, while the interest rate on deposits maturing in 3 years to less than 5 years has increased from 5.45% to 5.60%. . SBI increased the interest rate on fixed deposits for 5 years and up to 10 years from 5.50% to 5.65%.

For senior citizens, SBI has mentioned on its website that “A special “SBI Wecare” deposit has been introduced for Senior Citizens in the Retail TD segment which carries an additional premium of 30 bps (from 50 bps- the current one mentioned in the above table) is included.Senior citizens will be paid on their sales TD only for “5 Years and above”. “SBI Wecare” deposit scheme till 30 It is extended to September 2022.”

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