SBI announces new platinum deposit scheme - Important dates, interest rates, other details

On the occasion of India's 75th Independence Day, the State Bank of India (SBI) has launched a new Platinum Deposit Scheme for its customers, the scheme can be availed through any SBI branch or the SBI YONO App. 

SBI took to Twitter to announce this news, the tweet said, "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."

The new SBI Platinum Deposit Scheme will be available from August 15 to September 14, 2021, and customers can choose from a wide number of options. 

Customers can choose from the following Period of Deposits:

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

Eligibility for Deposits: 

- Domestic Retail Term Deposits (DRTD) including NRE and NRO Term Deposits (< Rs 2 crore)
- New and Renewal Deposits
- Term Deposit and Special Term Deposits
- NRE Deposits are eligible for 525 days and 2250 days only

Payment of Interest:

- Term Deposits - Can be availed only at monthly or quaterly deposits
- Special Term Deposits - On maturity
- Interest, net of TDS, credited to Customer’s Account 

The interest rate for DRTD below Rs 2 crores and NRE and NRO term deposits remain unchanged.