SBI is offering 0.15% extra interest on some fixed deposit accounts. Check tenors, dates

By: |
August 17, 2021 4:19 PM

SBI Platinum Term Deposit Plan: The State Bank of India (SBI) has introduced 'Platinum Term Deposits' for its customers to mark the 75 years of India's Independence.

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SBI Platinum Term Deposit Plan: The State Bank of India (SBI) has introduced ‘Platinum Term Deposits’ for its customers to mark the 75 years of India’s Independence. Under this new term deposit plan, a customer will get an additional interest benefit of up to 15 bps (0.15%) on term deposits for 75 days, 75 weeks and 75 months tenors. The offer will be applicable for term deposits booked between 15-08-2021 till 14-09-2021.

“For retail depositors, the Bank is introducing ‘Platinum Term Deposits’ to mark 75 years of independence. Customers can now get additional interest benefit up to 15 bps on Term Deposits for 75 days, 75 weeks, and 75 months tenors starting 15.08.2021 till 14.09.2021,” SBI said in a statement.

At present, SBI is offering 3.90% interest on a term deposit for 75 days. Hence, FDs booked under the Platinum Term Deposits for 75 days will fetch 4.05% interest. Similarly, deposits of 75 weeks and 75 months tenors will fetch 5.15% and 5.55% interest rates instead of the current 5% and 5.4% interest rates respectively.

SBI has announced several other offers for its retail customers. Some of them are:

  • 100% waiver on processing fees for car loan customers across all channels. The customers can also enjoy the facility of up to 90% on-road financing for their car loans.
  • Special interest concession of 25 bps for customers applying for a Car loan via YONO. The users of YONO SBI planning to bring home a new car can avail of the loan at an interest rate of as low as 7.5% per annum.
  • A reduction of 75bps in the interest rates on Gold loan. SBI customers can avail of Gold loans from across all channels of the bank at 7.5% per annum. The bank has further waived off the processing fee for all the customers applying for a gold loan via YONO.
  • SBI has announced a 100% waiver in processing fees across all channels for personal and pension loan customers.
  • Special interest concession of 50 bps to covid warriors i.e., ‘frontline healthcare workers’ applying for Personal loans, which soon will be available for application under Car and Gold loans as well.

Commenting on the offers, C S Setty, MD (Retail & Digital Banking), SBI said, “We are glad to announce multiple offerings for all our retail customers ahead of the festive season. We believe that these offerings will help customers to save more on their loans and at the same time add value to their festive celebrations. It is our constant endeavor at SBI to offer the best financing solutions to all our valued customers and help them fulfill their needs and requirements.”

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