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The State Bank of India has launched a new term deposit scheme called the Utsav deposit on the occasion of India celebrating its 76th Independence day. The scheme started on 15th August 2022 and the offer will continue for 75 days only i.e. 30th October 2022. Under the Utsav deposit scheme, SBI is offering an interest rate of 6.1% on fixed deposits. In this article, we have covered all the details related to Utsav Fixed Deposit Scheme.
SBI Introduced “Utsav Fixed Deposit Scheme” in Hindi
SBI Introduced “Utsav Fixed Deposit Scheme”
The maturity period of the fixed deposits done under the Utsav Fixed Deposit Scheme is 1,000 days and the return on investment is 6.1%. A delightful offer made especially for our customers to celebrate 75 years of Azadi reads the official tweet made by SBI. Senior citizens will get an extra 0.5% interest rate upon the normal interest rate offered under this Utsav fixed deposit scheme. SBI has also raised interest rates on a few different fixed deposit (FD) tenures by as much as 15 basis points. The new rates, which apply to FDs, take effect on August 13, 2022, according to the bank’s website.
| Maturity Period of Fixed Deposits | Old Interest Rate | New Interest Rate |
| 180 to 210 days | 4.40% | 4.55% |
| 1 year to less than 2 years | 5.30% | 5.45% |
| 2 years to less than 3 years | 5.50% | 5.35% |
| 3 years to less than 5 years | 5.45% | 5.60% |
| 5 years and upto 10 years | 5.50% | 5.65% |
FAQs: “Utsav Fixed Deposit Scheme”
Q.1 What is Utsav fixed deposit scheme?
Ans Utsav fixed deposit scheme is the new term deposit scheme launched by SBI and is offering the interest rate of 6.1 %
Q.2 What is the last date to enroll in the SBI Utsav fixed deposit scheme?
Ans The last date to enroll in the SBI Utsav fixed deposit scheme is 30th October 2022
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