SBI’s Special fixed Deposit (FD) scheme expires today. Last chance to invest

SBI’s Special fixed Deposit (FD) scheme expires today. Last chance to invest

SBI Special Fixed Deposit (FD) Scheme, Platinum Deposit, with additional interest benefits for customers

To mark the 35th anniversary of India’s independence, the country’s largest lender, State Bank of India (SBI), last month launched a special limited-period special deposit scheme, the Platinum Deposit Scheme. The scheme, which was implemented on 15 August 2021, will end today (14 September 2021). This means that if you want to invest in it, today is the last day. The SBI Platinum deposit scheme came with additional interest benefits for the customers. Under the scheme, bank customers can avail up to 15 basis points (bps) on term deposits for different brackets.

SBI Platinum maintains interest rates for general customers

Platinum 75 days – 3.95%

Platinum 525 days – 5.10%

Platinum 2250 days – 5.55%

SBI Platinum Deposits Interest Rate for Senior Citizens

Platinum 75 days – 4.45%

Platinum 525 days -5.60%

Platinum 2250 days – 6.20%

SBI Platinum Deposit Eligibility

Domestic retail term deposits (less than Rs 2 crore) including RE NRE and NRO term deposits

New and renewed deposits

Fixed deposit and special term deposit products.

RE NRE Deposits (for 525 days and 2250 days only)

SBI Platinum Deposit Payment of Interest

Fixed Deposits – Monthly / Quarterly intervals

• Special Term Deposits – Upon Maturity

Interest, net of TDS, credited to customer’s account

SBI FD latest interest rates

Between 7 days and 10 years, SBI FD will give 2.9% to 5.4% to ordinary customers. Senior citizens will get an additional 50 basis points (BPS) on these deposits. These rates are applicable from 8th January 2021.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Top Markets News journalist was involved in the writing and production of this article.

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