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State Bank of India: SBI offers a special deposit scheme in FDs or term deposits, offering higher interest rates to all customers and senior citizens. This new plan called Platinum Deposit is only for a few days.
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State Bank of India (SBI), the country’s largest bank, has launched a number of offers for its customers on the occasion of Independence Day. You can avail this offer from discounted loans to special deposit schemes.
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SBI offered a special deposit scheme in FDs or term deposits, under which all customers and senior citizens should be paid higher interest. This new plan called Platinum Deposit is only for a few days. According to SBI’s website, the scheme will close on September 14. The SBI said, “It is time to celebrate the 75th year of independence. Special benefits are being offered on term deposits and special term deposits in SBI. This offer is only valid until 14 September 2021.
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What is SBI Platinum Deposit Scheme: Under SBI Platinum Deposit Scheme, people will be given additional interest up to 0.15 per cent for 75 days, 75 weeks and 75 months FD. Under this scheme, the benefit will be available on term deposits of less than Rs 2 crore.
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For example, SBI is charging 3.90 per cent interest on 75-day term deposits, but under the special offer, it will get 3.95 per cent interest. Similarly, a 75-week or 525-day term deposit will now earn 5 per cent interest, but will now earn 5.10 per cent. Similarly, 75-month or 2250-day FDs now earn 5.40 per cent interest, up from 5.55 per cent under the new scheme.
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Similarly, for senior citizens, SBI has announced an interest rate of 4.45 per cent for 75 days and 5.60 per cent for 525 days. There is no additional interest plan of 2250 days for senior citizens.
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SBI has also announced concessions on home loans, personal loans, etc. on the eve of independence. Under the special home loan scheme, SBI announced zero processing fees, meaning it is completely waived, and a 0.05 per cent discount on interest for all people who apply through the Yono app for women.
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It is worth noting that SBI’s home loan rates are very affordable and start at 6.7 per cent. Apart from this, SBI has announced 100% waiver of processing fees on auto loans, gold loans and personal loans.
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