On the occasion of the nation’s 75th anniversary of independence, the largest bank in the nation, SBI, unveiled the Utsav Deposit special programme. You receive higher interest than a standard FD if you invest under this scheme. This unique FD programme is valid through October 28, 2022. So act quickly if you plan to invest in it.
Higher interest on FD of 1000 days
SBI has begun a 1000-day fixed-term deposit known as an “Utsav Deposit.” SBI is providing a 6.10% annual interest rate on deposits made for a period of one thousand days. Senior citizens will be entitled to an extra 0.50% in interest over and above the standard rate. You can invest up to Rs 2 crore in this.
SBI is offering interest up to 5.65%
SBI now offers interest on FDs ranging from 2.90% to 5.50%. At the same time, senior citizens are being offered interest rates between 3.40% and 6.30%. For a period of five to ten years, SBI is now providing depositors with interest rates of up to 5.50%. For senior folks, the bank is giving interest rates of up to 6.30%.
How much interest is SBI paying on FD
| Duration | Rate of interest (%) | Interest Rate for Senior Citizen (%) |
| 7 to 45 days | 2.90 | 3.40 |
| 46 to 179 days | 3.90 | 4.40 |
| 180 to 210 days | 4.40 | 4.90 |
| 211 to less than 1 year | 4.60 | 5.10 |
| 1 year to less than 2 years | 5.30 | 5.80 |
| 2 years to less than 3 years | 5.35 | 5.85 |
| 3 years to less than 5 years | 5.45 | 5.95 |
| 5 years to 10 years | 5.50 | 6.30 |
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