Good news for you Bank customers!. The State Bank of India has announced a mega saving scheme for its customers called 'Platinum Deposits Scheme'. This scheme by SBI was launched to celebrate 75 years of Independence of India. As per the updates from SBI, the Platinum Deposits Scheme is aimed at retail depositors and comes with additional interest benefits for customers. The SBI has said that its customers can now earn the benefits of up to 15 bps on term deposits for 75 days, 75 weeks and 75 months tenors. The scheme's period was set from August 15 and ends on September 14, 2021.

Check the interest rates and other benefits of the Platinum Deposits Scheme:

Tenor: Platinum of 75 days

Existing: 3.90 percent

Proposed: 3.95 percent

Tenor: Platinum 525 days

Existing: 5.00 percent

Proposed: 5.10 percent

Tenor: Platinum 2250 days

Existing: 5.40 percent

Proposed: 5.55 percent

SBI Platinum Deposits Interest Rates for Senior Citizens:

Tenor: Platinum 75 days

Existing: 4.40 percent

Proposed: 4.45 percent

Tenor: Platinum 525 days

Existing: 5.50 percent

Proposed: 5.60 percent

Tenor: Platinum 2250 days

The SBI said that senior citizens will receive a 6.20 percent interest rate.

Platinum Deposits Scheme: Eligibility criteria

The SBI said that the deposits that are eligible under Platinum Deposits Scheme are Domestic Retail Term Deposits including NRE and NRO Term Deposits which are less than Rs 2 crore. Moreover, the Platinum Deposits Scheme also qualifies new and renewal Deposits, Term Deposits and Special Term Deposit products as well as NRE Deposits (for 525 Days and 2250 Days only).
 

Apart from this, the SBI also offers SBI WECARE Scheme for senior citizens with an additional 30 bps interest rate on their FDs for a 5-year tenor and more.

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