SBI FD alert! State Bank of India’s Utsav Deposit scheme with attractive interest rates ending tomorrow, October 28

State Bank of India's UTSAV Deposit scheme is going to end tomorrow (Friday, 28 October 2022). The country`s largest lender State Bank of India (SBI) had launched Utsav Deposit on the occassion of 75 years of Independence this year.

Under the Utsav Deposit scheme, interest rate payable is 6.10 percent. Further, Senior Citizens, Staff and Staff Pensioners are eligible for additional interest rate applicable to them. ()

Here are the salient features of the Utsav Deposit scheme of the SBI:

Period of Scheme: From 15.08.2022 to 28.10.2022

Tenor of Deposit: 1000 Days

Eligible Deposits

i) Domestic Retail Term Deposits including NRO Term Deposits (< Rs 2 crore)

ii) New and Renewal Deposits

iii) Term Deposit and Special Term Deposit only

Exclusions: ii) NRO Deposits of Staff and Senior Citizens.

Payment of Interest

i) Term Deposits – At monthly/ quarterly/half yearly intervals Special Term Deposits- On maturity

ii) Interest, net of TDS, shall

TDS: At applicable rate as per Income-tax Act

Premature Withdrawal: i) As applicable for Retail Term Deposit

Loan Facility is also available on the scheme. The Utsav Deposit can be availed through Branch/INB/YONO Channels. However it is not applicable for NRE Deposits.