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To celebrate India’s 75th year of Independence, the country's top lender State Bank of India (SBI) last month started a limited period special deposit scheme called the ‘Platinum Deposits Scheme’. The scheme which was made effective on 15 August 2021 will end today (14 September 2021). This means that today is the last day in case you want to invest in the same. SBI Platinum Deposits Scheme came with additional interest benefits for the customers. Under the scheme, the customers of the bank could earn the benefits of up to 15 basis points (bps) on term deposits for different brackets.

SBI Platinum Deposits interest rate for general customers

Platinum 75 Days - 3.95%

Platinum 525 Days - 5.10%

Platinum 2250 Days - 5.55%

SBI Platinum Deposits Interest Rates senior citizens

Platinum 75 days - 4.45%

Platinum 525 days -5.60%

Platinum 2250 days - 6,20%

SBI Platinum Deposits Eligibility

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

• New and renewal deposits

• Term deposit and special term deposit products only.

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

SBI Platinum Deposits Payment of Interest

• Term Deposits – At monthly/ quarterly intervals

• Special Term Deposits- On maturity

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

SBI FD latest interest rates

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. These rates are effective from 8 January 2021.

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