SBI special deposit scheme launched: Check last date, interest rate and other scheme details

New Delhi: The State Bank of India (SBI) has launched Platinum Deposits 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.

The SBI PLATINUM DEPOSITS Scheme Period can be availed from August 15, 2021 to September 14, 2021. Customers can choose from the following Period of Deposits:

- Platinum 75 Days
- Platinum 525 Days
- Platinum 2250 Days

The following will be Eligible Deposits

- Domestic Retail Term Deposits including NRE and NRO Term Deposits (< Rs 2 crore)

• New and Renewal Deposits
• Term Deposit and Special Term Deposit products only.
• NRE Deposits (for 525 Days and 2250 Days only)

- Exclusions:

• Other products e.g., Recurring Deposits, Tax Savings Deposits, Annuity Deposits, MACAD Deposits, Multi Option Deposits (MODs), Capital Gains Scheme etc.
• NRE and NRO Deposits of Staff and Senior Citizens 

INTEREST RATE

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), said SBI.

Payment of Interest

• Term Deposits – At monthly/ quarterly intervals
• Special Term Deposits- On maturity
• Interest, net of TDS, credited to Customer’s Account 

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.