Bank Customers Alert: Bank customers, here is an update for you. The State Bank of India (SBI) has announced a mega saving scheme for its customers called ‘Platinum Deposits Scheme’. This scheme by SBI was launched to commemorate 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.Also Read - Home Loan Interest at All-Time Low: HDFC Announces Home Loan at 6.7% Interest, Here’s How to Apply

“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 SBI said in a tweet. Also Read - Good News For Pensioners: SBI Revamps Pension Seva Website For Ease of Services | Check Full List of Facilities

Check the interest rates and other benefits of Platinum Deposits Scheme: Also Read - SBI Cuts Home Loan Interest Rate to 6.7 Per Cent for Any Amount, Waives Processing Fees | Deets Inside

Tenor: Platinum of 75 days

Existing: 3.90 per cent

Proposed: 3.95 per cent

Tenor: Platinum 525 days

Existing: 5.00 per cent

Proposed: 5.10 per cent

Tenor: Platinum 2250 days

Existing: 5.40 per cent

Proposed: 5.55 per cent

SBI Platinum Deposits Interest Rates for Senior Citizens:

Tenor: Platinum 75 days

Existing: 4.40 per cent

Proposed: 4.45 per cent

Tenor: Platinum 525 days

Existing: 5.50 per cent

Proposed: 5.60 per cent

Tenor: Platinum 2250 days

The SBI said that senior citizens will receive a 6.20 per cent 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).

Know about SBI Special FD Scheme for Senior Citizens

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.