state Bank of India Ltd. has launched a new fixed deposit scheme named “Utsav Deposit” to commemorate the 76th Independence Day of the country. This fixed deposit will offer 6.1 percent Rate of interest With effect from August 15, 2022. This offer is valid for 75 days i.e. till October 30, 2022.

As per a tweet by SBI, “A delightful offer especially for our customers celebrating 75 years or Independence. With ‘Utsav’ deposits, get higher interest rates Fixed deposit,

According to SBI’s website, “The bank has also introduced a specific period of “1000 days” from 15-August-2022 for 75 days at an ROI of 6.10%.

SBI Utsav Deposit Scheme Details

SBI is offering FDs under its Utsav Fixed Deposit Scheme with a tenor of 1000 days at an interest rate of 6.10% per annum.

Seniors will be entitled to an additional 0.50% over and above the standard interest rate.

SBI offers interest rates in fixed deposits ranging from 2.90 per cent to 5.65 per cent for regular citizens with tenures between 7 days to 10 years.

SBI hikes FD rates

SBI has increased interest rates by up to 15 bps on select fixed deposit (FD) tenures. According to the bank’s website, the increased rates are effective from August 13, 2022 and are applicable on FDs of less than Rs 2 crore. After the adjustment, SBI will now offer fixed deposit interest rates ranging from 2.90% to 5.65% for general public and 3.40% to 6.45% for senior citizens.

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SBI hikes FD interest rates by up to 15 bps for these tenors