75th Independence Day: sbi launches this scheme!!!

On the occasion of the country's 75th year of independence, State bank of india (SBI), the largest lender in the country, has started a unique term deposit program named 'Utsav Term Deposit'. The benefit of higher interest rates will be available in this term deposit scheme. sbi has said through a tweet that 'Let your finances do the hard work for you. Introducing 'Utsav Deposits' with High Interest Rates on your Term Deposits!

On Utsav Term Deposit Scheme, sbi is offering an interest rate of 6.10 per cent per annum on tenor of 1000 days. Senior citizens will be eligible to get an additional interest rate of 0.50 per cent over and above the regular rate. These rates are effective from 15th august 2022 and the plan is valid for a period of 75 days.

Recently, sbi had increased the interest rates on fixed deposits of Rs 2 crore. sbi had announced the new interest rates on august 13, 2022, the bank had increased the interest rates by 15 bps for various tenors. sbi has increased the interest rates on fixed deposits maturing in 180 to 210 days from 4.40 percent to 4.55 percent. sbi has increased the interest rates on FDs with maturity from one year to less than two years from 5.30 per cent to 5.45 per cent. The interest rate on deposits maturing in 2 years and less than 3 years increased from 5.35 per cent to 5.50 per cent, while on deposits maturing in 3 years and less than 5 years, the interest rate increased from 5.45 per cent to 5.60 per cent. sbi has increased the interest rate on fixed deposits maturing in 5 years and 10 years from 5.50 per cent to 5.65 per cent.

For Senior Citizens, sbi on its website states that 'A special 'SBI WeCare' deposit for Senior Citizens has been introduced in the Retail Term Deposit segment with an additional premium of 30 bps to the Senior Citizens on their retail TD only '5 Years and above' will be paid.