SBI Utsav Fixed Deposit offer to give 6.10% Interest!
There’s some good news for SBI Bank fixed deposit customers. The bank has come up with a Utsav Fixed Deposit offer on occasion of Independence Day. It promises 6.10% interest which is the highest among all SBI fixed deposit plans.
As per this offer, tenor is fixed at 1000 days. Interest rate is 6.10% p.a. While senior citizens get an additional 0.5% which increases their FD interest to 6.60%. This offer is valid from 15th August to 29th October 2022 i.e. 75 days. You can make as many FDs as you want, but tenor will be fixed at 1000 days.
On August 13th, SBI increased the interest rates of FDs under ₹2 Crore. As per this, all rates were increased by 0.15% (0.30% for seniors). Thus, the highest rate now is 5.65% which is for 5-10 years tenor. Therefore, this makes Utsav FD an instrumental one. However, SBI home loan EMIs have increased.
Let your finances do the hard work for you.
— State Bank of India (@TheOfficialSBI) August 14, 2022
Introducing 'Utsav' Deposit with higher interest rates on your Fixed Deposits!#SBI #UtsavDeposit #FixedDeposits #AmritMahotsav pic.twitter.com/seMdVaOz0e
Other major banks in HDFC, ICICI, Kotak, and more may also increase their fixed deposit interest rates soon. Also, similar offers from them might be in the pipeline.
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Idfc first bank giving 6% interest for saving account (if balance is more than 10 lakh).
Also, 750 days fd interest rate is 6.9% in idfc first bank.
IndusInd giving 7.5% for Sc for 1.6 years
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Don't get trapped in such offers. 8% is the target atleast.