HomeLifestyleUtsav Deposit: Opportunity to earn more interest on SBI FD, know details

Utsav Deposit: Opportunity to earn more interest on SBI FD, know details

Highlights

State Bank of India (SBI) has launched a scheme called Utsav Deposit.
SBI is offering an interest rate of 6.10% p.a. on deposits for 1,000 days.
The tenure of Utsav Deposit Scheme is from August 15, 2022 to October 28, 2022.

New Delhi. If you are thinking of doing Fixed Deposit (FD), then this is a golden opportunity for you. Actually, the country’s largest bank State Bank of India (SBI) has introduced a special scheme Utsav Deposit on the completion of 75 years of independence. You can take advantage of this special FD scheme by depositing money for 75 days. This offer is till October 28, 2022.

Recently SBI had said through a tweet, “Let your finance (money) work hard for you. Introducing ‘Utsav’ Deposits with high interest rates on your Fixed Deposits!” Let us know about the Utsav Deposit Scheme.

Tenure of Utsav Deposit Scheme
August 15, 2022 to October 28, 2022

Period of Deposit
1000 days

Eligibility
>> Domestic Retail Term Deposits including NRO Term Deposits (less than Rs.2 crore)
>> New and Renewal Deposits
>> Only Term Deposit and Special Term Deposit

Rate of interest
On Utsav FD scheme, SBI is offering an interest rate of 6.10 per cent per annum on deposits for 1,000 days. Senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate.

interest paid
Special Term Deposits at Monthly/ Quarterly/ Half yearly intervals – On Maturity

TDS
Rate applicable as per Income Tax Act

premature withdrawal
Applicable as per Retail Term Deposits

SBI Latest FD Rates
SBI is currently offering up to 5.65% interest to depositors for a tenure of 5 to 10 years. For senior citizens, the bank is offering interest up to 6.45%. These interest rates are applicable from 13 August 2022.

Tags: Bank FD, FD Rates, Fixed deposits, sbi

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