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SBI launches special deposit scheme: Know the interest rate, features, and other scheme details

State Bank of India has launched a special deposit scheme to mark the celebratory occasion of 75 years of Independence.

The scheme is available through SBI Branch, INB, and YONO Channels.

“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,” said SBI in a tweet.

SBI Platinum Deposits: Here is all you need to know

The SBI Platinum Deposits Scheme period can be availed from August 15, 2021, to September 14, 2021.

Period of Deposits:

  • Platinum 75 Days.
  • Platinum 525 Days.
  • Platinum 2250 Days.

Eligibility:

  • Domestic retail term deposits including NRE and NRO term deposits (less than ₹2 crores).
  • New and renewal deposits.
  • Term deposit and special term deposit products only.
  • NRE deposits (for 525 Days and 2250 Days only).

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% ( 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).

Premature Withdrawal

  • As applicable for Term / Special Term Deposits.
  • Available Through
  • Branch/ INB/ YONO Channels.

Others

SBI has also mentioned that interest rates for all other tenors of Domestic Retail Term Deposits (Below Rs. 2 crores) and NRE and NRO Term Deposits and all other terms and conditions remain unchanged.

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