The largest lender in the nation, State Bank of India (SBI) has introduced a unique term deposit programme called “Utsav Deposit Scheme”.

• This fixed deposit scheme has higher interest rates and is only available for a limited time. This programme is introduced on the occasion of the nation’s 76th year of Independence, celebrated as Azadi Ka Amrit Mahotsav.
• SBI is offering an interest rate of 6.10% per annum on fixed deposits with a tenure of 1000 days. And senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate.
• These rates are effective as of 15th August 2022 and the scheme is valid for a period of 75 days.