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SBI introduces special deposit scheme; check interest rates and other details

SBI tweeted "It's time to celebrate India's 75th year of Independence with Platinum Deposits. Exclusive benefits for Term Deposits and Special Term Deposits with SBI. Offer valid up to 14th Sept 2021".

August 16, 2021 / 12:30 PM IST
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On the occasion of 75th Independence Day, India's largest lender State bank of India (SBI) introduces a special deposit scheme. The special deposit scheme, SBI Platinum Deposits is a limited period offer and will end on September 14.

SBI tweeted "It's time to celebrate India's 75th year of Independence with Platinum Deposits. Exclusive benefits for Term Deposits and Special Term Deposits with SBI. Offer valid up to 14th Sept 2021".

Here's all you need to know about SBI Platinum Deposits

Period of Deposits

Close

Platinum 75 Days

Platinum 525 Days

Platinum 2250 Days

Tenure

15.08.2021 to 14.09.2021

Eligibility

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

-New and renewal deposits

-Term deposit and special term deposit products only.

-NRE deposits (for 525 Days and 2250 Days only)

Exclusions

Other products e.g., Recurring Deposits, Tax Savings Deposits, Annuity Deposits, MACAD Deposits, Multi Option Deposits (MODs), Capital Gains Scheme etc.

-NRE and NRO Deposits of Staff and Senior Citizens

SBI Platinum Deposits Interest Rates general public

Tenor: Platinum 75 days

Existing: 3.90%

Proposed: 3.95%

Tenor: Platinum 525 days

5.00%

5.10%

Tenor: Platinum 2250 days

5.40%

5.55%

SBI Platinum Deposits Interest Rates senior citizens

Tenor: Platinum 75 days

Existing: 4.40%

Proposed: 4.45%

Tenor: Platinum 525 days

5.50%

5.60%

Tenor: Platinum 2250 days

6.20 percent ( Rate of interest applicable under SBI WECARE Scheme)

Senior Citizens and SBI Pensioners shall continue getting benefits under SBI WECARE Scheme for 5 years and above tenor (additional benefit under Platinum Deposits not available)

Payment of Interest

-Term Deposits – At monthly/ quarterly intervals

-Special Term Deposits- On maturity

-Interest, net of TDS, credited to Customer’s Account

Premature Withdrawal

As applicable for Term / Special Term Deposits

Available Through

Branch/ INB/ YONO Channels

Others

Interest rates for all other tenors of Domestic Retail Term Deposits (Below Rs. 2 crores) and NRE and NRO Term Deposits and all o and all other terms and conditions remain unchanged.

SBI FD latest interest rates

SBI FDs between 7 days to 10 years will give 2.9 percent to 5.4 percent to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. These rates are effective from January 8, 2021.


Moneycontrol News
first published: Aug 16, 2021 12:30 pm

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