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Home / Money / Personal Finance /  SBI special deposit scheme vs SBI fixed deposit (FD): Latest interest rates

State Bank of India (SBI) has introduced a special deposit scheme called platinum term deposits for retail depositors. Customers can now get additional interest benefit up to 15 bps on term deposits for 75 days, 75 weeks, and 75 months tenors till September 14.

“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," SBI had tweeted.

SBI Platinum Deposits Interest Rates for the 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 for 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% ( Rate of interest applicable under SBI WECARE Scheme)

SBI special FD scheme for senior citizens

SBI special FD scheme for senior citizens known as We Care offers an additional 30 bps interest rate to the senior citizens on their FD for the tenor of 5 years and more. If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate applicable to the FD will be 6.20%.

SBI latest FD interest rates (below 2 crore) for the general public

SBI FDs between 7 days to 10 years will give 2.9% to 5.4% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. The revised SBI rates on retail FDs of less than 2 crore are effective from 8 January 2021.

7 days to 45 days - 2.9%

46 days to 179 days - 3.9%

180 days to 210 days - 4.4%

211 days to less than 1 year - 4.4%

1 year to less than 2 years - 5%

2 years to less than 3 years - 5.1%

3 years to less than 5 years - 5.3%

5 years and up to 10 years - 5.4%

 

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