On the occasion of India’s 76th Independence Day, many banks have announced new fixed deposit schemes with attractive interest rates for a limited period to woo the investors. Banks like State Bank of India (SBI), Bank of Baroda (BOB), Axis Bank and Karnataka Bank have introduced new deposit interest rates to lure customers with higher fixed deposit (FD) interest rates.

SBI Utsav
SBI has launched a new fixed deposit scheme named “Utsav Deposit”. This fixed deposit will pay 6.1 per cent interest with effect from August 15, 2022. This offer is valid for 75 days or 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 on fixed deposits.”

Karnataka Bank KBL Amrit Samriddhi

In line with the celebration of 75th anniversary of the country’s independence in the form of Amrit Mahotsav of Azadi, Karnataka Bank has introduced a new fixed deposit scheme, KBL Amrit Samridhi under ACC and Fixed Deposit with tenure of 75 weeks (525 days) Is. The annual interest rate for this deposit scheme is 6.10%.

Baroda Tricolor Deposit Scheme

Bank of Baroda has launched Baroda Tiranga Deposit Scheme, a one-of-a-kind fixed deposit product with high interest rates.
The interest rates for two tenor buckets of Baroda Tricolor Deposit are 5.75 per cent for 444 days and 6.00 per cent for 555 days. The new scheme is effective from August 16 and will run till December 31, 2022, and is applicable on retail deposits of less than Rs 2 crore.

Axis Bank Special FD Scheme
Axis Bank is now offering an interest rate of 6.05% on 75-week FDs that are 1 year, 5 months and 7 days. The bank is offering them 6.80% interest rate on 75-week FD for senior citizens. This offer is valid from 18th to 25th August.

Ujjivan Small Finance Bank
Ujjivan SFB said it is offering the rate of 7.5% over three terms – 75 weeks, 75 months and 990 days – to commemorate the 75th anniversary of India’s independence.