SBI Utsav Fixed Deposit Scheme Online Launched in India

SBI Utsav Fixed Deposit Scheme Online Launched in India, SBI Utsav Fixed Deposit Scheme Launched with Higher Interest Rates, Eligibility, Benefits, Documents Required & How to Apply

SBI Utsav Fixed Deposit Scheme 2022: The State Bank of India (SBI) has introduced a new term deposit scheme dubbed “Utsav Deposit” in honour of the nation’s 76th Independence Day. This fixed deposit will offer 6.1 percent interest rate effective from August 15, 2022. This offer is valid for 75 days that is till October 30, 2022.

SBI Utsav Deposit scheme details. under its Utsav Fixed Deposit Scheme, SBI is offering FDs with a term of 1000 days and an interest rate of 6.10% per year. SBI Utsav Fixed Deposit Program promises a higher rate of return on investments after a period of one thousand days. In the next piece, we will go over all there is to know about the SBI Utsav Fixed Deposit Scheme.

In this Article You get information related to this scheme’s SBI Utsav Fixed Deposit Scheme Online Launched in India.& Higher Interest Rates, Eligibility, Benefits, Documents Required & How to Apply etc. In addition, we will keep you updated on the procedure for registering for this plan.

SBI Utsav Fixed Deposit Scheme

The scheme has been initiated on August 15th, 2022, and will be closed after 75 days, which will be October 30th, 2022. With the launch of the scheme, SBI has decided to increase the interest rates on all the fixed deposits, but the deposits must be less than 2 crore rupees.
The State Bank of India has recently launched a scheme and its initiation will be on August 15. This scheme is named the SBI Utsav Fixed Deposit Scheme. Commemorating the country’s 76th celebration, the State Bank of India introduced this program,
SBI Utsav Fixed Deposit Scheme Main Point Highlights:
Scheme Name SBI Utsav Fixed Deposit
launched date 15 August 2022
Launch By State Bank of India
benefits SBI Account Holders
Website Click Here
The scheme has an expiry date, which will last 75 days. But senior citizens of a particular age group will get 50% more in interest benefits than the usual accounts. This initiative is in effect from August 13th, 2022. Furthermore, interest rates will be increased by 15 points on all tender fixed deposits. The last date to enroll in the SBI Utsav fixed deposit scheme is 30th October 2022

Objectives

sbi utsav fixed deposit scheme calculator One of the key motives for the creation of this program by the State Bank of India (SBI), which is India’s biggest public sector bank, is to commemorate the celebration of India’s independence.

This scheme is constructed on the basis of interest rates, and it carries with it. It has both advantages and a maturity term. The program was launched on August 15th, 2022, and will end on October 30th, 2022, 75 days later.

SBI Utsav Fixed Deposit Scheme

SBI Utsav Fixed Deposit Scheme interest rates will increase

SBI Utsav Fixed Deposit Scheme will be open for the next 75 days from 15th August 2022. Recently SBI has decided to increase the interest rates on FDs with deposits less than Rs 2 crore which is effective from 13th August 2022. It has been decided to increase the interest rates on all tenor FDs by 15 basis points.

SBI has increased the interest rate on FDs of 1 year to 2 years from 5.30 percent to 5.45 percent. SBI has increased the interest rate on FDs of 5 to 10 years from 5.50 percent to 5.65 percent.

SBI Utsav Fixed Deposit Scheme Benefits and Important Points

  • This is a scheme that has the highest interest rate on the fixed deposit. This means it is beneficial for those who are focusing on fixed deposits.
  • This scheme offers an interest rate of 6.10 on fixed deposits of around 1000 days.
  • Fixed deposits which are maturing in 3 years to less than 5 years have increased from 5.45% to 5.60%
  • Finally, fixed deposits maturing in 5 years and up to 10 years saw their interest rate increase from 5.50% to 5.65%.
  • This will be beneficial for elderly individuals who are SBI holders as the scheme will provide them with an interest rate of 0.50 more than the regular rate.
  • SBI previously was not planning interest rates on fixed deposits under 2 crore rupees, but they have recently updated this section and now they have a new rate. According to the new rate, the bank increased the interest rates by 15 BPS for various standards.
  • Additional SBI has increased interest rates on all fixed deposits which will be measured in 182 to 210 days by 0.15%.
  • And for the fixed deposits which are measuring from 2 years to less than 3 years, their interest rate is increased. 5.35% to 5.50% which is 0.15 percent more than the previous.

Different rates of the schemes:

  • Interest rates on fixed deposits under ₹2 Cr were recently increased at SBI. SBI announced the new interest rates on August 13, 2022, and as a result of the adjustment, the bank increased interest rates by 15 bps for various tenors.
  • SBI increased interest rates on fixed deposits maturing in 180 to 210 days from 4.40% to 4.55%.
  • SBI increased interest rates from 5.30% to 5.45% for fixed deposits with maturities of one year to less than two years.
  • The interest rate on deposits maturing in 2 years to less than 3 years has increased to 5.50% from 5.35%, while the interest rate on deposits maturing in 3 years to less than 5 years has increased from 5.45% to 5.60%.
  • SBI increased the interest rate on fixed deposits maturing in 5 years and up to 10 years from 5.50% to 5.65%.

SBI Utsav Fixed Deposit Scheme Eligibility

It is required for the SBI Utsav fixed deposit scheme to be as follows:

  • Applicants must have an account.
  • Applicants must be citizens of India.
  • Applicants must be in the age group of 18 or older.

SBI Utsav Fixed Deposit Scheme Documents

Under this scheme, the important documents are as follows:

  • Applicant’s identification card.
  • Address proof.
  • bank account at SBI.
  • Email ID
  • Mobile number (This mobile number must be linked with the bank account of SBI)

SBI Utsav Fixed Deposit Scheme Form Registration Method

On the official website of SBI, there are no updates on how to use this SBI Utsav Fixed Deposit Scheme online, but there is an offline method.

  • In order to fill out the offline method form, you have to follow the steps below:
  • First, you have to visit the closest local SBI branch in your locality. And there you have to ask for the form of the scheme.
  • You have to enter all the basic details and attach all the relevant documents needed.
  • You have to submit your form to the concerned department at SBI Bank.
  • They will approve it and you will benefit from this scheme.

SBI Utsav Fixed Deposit Scheme (F.A.Q)?

What is Utsav fixed deposit scheme?
Utsav fixed deposit scheme is the new term deposit scheme launched by SBI and is offering the interest rate of 6.1 %
 What is the last date to enroll in the SBI Utsav fixed deposit scheme?
The last date to enroll in the SBI Utsav fixed deposit scheme is 30th October 2022,
Do senior citizens get a different FD rate? 
Yes, senior citizens are eligible to get an additional interest of 0.50% than the regular rate.

Conclusion:

Here we have provided all the information about the SBI Utsav Fixed Deposit Scheme Online Launched in India   If you like this, you should definitely share it with people you know. I hope you liked this article and got some new information. Please tell me in the comments.

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