SBI Utsav Fixed Deposit offer to give 6.10% Interest!

India’s premier bank SBI has come up with Utsav Fixed Deposit offer as a part of Azaadi Ka Amrit Mahotsav 2022. It promises the highest Interest Rates among all SBI fixed deposit plans!

by FighterMan Updated: 16 Aug, 2022, 13:38 IST
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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.

https://cdn0.desidime.com/attachments/photos/796874/medium/fd-interest-rates.jpg?1660637270

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.

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.

Top Comments
Wildfire Wildfire
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One of worst ways to trap your money for 3 years when the rates will keep going up atleast for the next 12 months
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Deal Cadet Deal Cadet
Has anyone compared this with offline post office FD rates? Please check and then proceed.
Deal Subedar Deal Subedar
In a year rpi repo rate will be 6% for sure so banks bringing this type of offers instead of actually raising their fd rate at the same speed their loan rate is increasing
Deal Cadet Deal Cadet

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.

Crowdpuller Crowdpuller
rohan065 wrote:

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.

IDFC max rate is 6.5% bro
Deal Subedar Deal Subedar
How to open this FD with 6.1% interest.. in yono SBI it's showing 5.5% only for 1000 days
Deal Newbie Deal Newbie
Bandhan Bank is giving more than 7% to senior citizens
Wingman Wingman
rohan065 wrote:

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.

Any bank that offers like 5/6% for keeping 1 lakh other than au bank
Deal Cadet Deal Cadet
rohan065 wrote:

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.

Its progressive. Not 6% on entire amount
Wildfire Wildfire
One of worst ways to trap your money for 3 years when the rates will keep going up atleast for the next 12 months
Deal Cadet Deal Cadet
March 2010 to Nov 2011 , interest rate went from 4.25 to 8.5 2x in 20 months. grinning Don't get trapped in such offers. 8% is the target atleast.
Deal Cadet Deal Cadet
eheh wrote:
March 2010 to Nov 2011 , interest rate went from 4.25 to 8.5 2x in 20 months. grinning Don't get trapped in such offers. 8% is the target atleast.
I think no bank gives u 8% now a days, not even in future, currently using one card for fd @ 7.10% per annum
Deal Subedar Deal Subedar
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danishsharma201868 wrote:
I think no bank gives u 8% now a days, not even in future, currently using one card for fd @ 7.10% per annum
Aug 2019

Rbi repo rate 5.4% sbi
fd rate for 1yr 6.8% (+1.4% difference)

Corona time

Rbi repo rate 4%
sbi fd rate for 1 yr 4.95%-5.00% (+1% difference)

Now

Rbi repo rate 5.4%
sbi fd rate for 1yr 5.75% (+0.35% difference)

This is how they r increasing NIM

so ur words can be true then need to move in debt funds yield will cross 8% next year 
Deal Newbie Deal Newbie
In yono it was showing 5. something
Deal Cadet Deal Cadet
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Jarvis.-. wrote:
Aug 2019

Rbi repo rate 5.4% sbi
fd rate for 1yr 6.8% (+1.4% difference)

Corona time

Rbi repo rate 4%
sbi fd rate for 1 yr 4.95%-5.00% (+1% difference)

Now

Rbi repo rate 5.4%
sbi fd rate for 1yr 5.75% (+0.35% difference)

This is how they r increasing NIM

so ur words can be true then need to move in debt funds yield will cross 8% next year 
How to invest in debt fund sir Can u guide
Deal Subedar Deal Subedar
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kkrulesdnation wrote:
How to invest in debt fund sir Can u guide
Read zerodha varsity + go to zerodha channel watch all webiner related to debt fund to learn about it

Deal Newbie Deal Newbie
Is AU nt safe?
Mobile Guru Mobile Guru
eheh wrote:
March 2010 to Nov 2011 , interest rate went from 4.25 to 8.5 2x in 20 months. grinning Don't get trapped in such offers. 8% is the target atleast.
Is any bank offering 8% interest on FD?
@malikcool @bikidas2060 @guest_999
Spearhead Spearhead
What about indmoney (SBM bank)? They give 7%+ interest occasionally.
Critic Critic
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MrKool_JJ wrote:
Is any bank offering 8% interest on FD?
@malikcool @bikidas2060 @guest_999
No & don't get trapped into high fd interest rates, at least never go below a scheduled commercial bank even if want to take some risk. Among small banks especially small finance banks I suggest equitas.
Deal Subedar Deal Subedar

IndusInd  giving 7.5% for Sc for 1.6 years 

Mobile Guru Mobile Guru
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guest_999 wrote:
No & don't get trapped into high fd interest rates, at least never go below a scheduled commercial bank even if want to take some risk. Among small banks especially small finance banks I suggest equitas.
I was just asking in general sirji biggrin
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