SBI Utsav Fixed Deposit Scheme 2025
SBI has launched the Utsav Fixed Deposit Scheme in 2025 to celebrate India’s 76th Independence Day as part of Azadi Ka Amrit Mahotsav. This special fixed deposit scheme starts on August 15, 2024, and lasts for 75 days. With this scheme, SBI offers attractive interest rates on deposits, especially for a term of 1000 days. If you have an account with SBI, this scheme is a good way to earn more from your savings. In this article, you will find simple details about the SBI Utsav Fixed Deposit Scheme, its advantages, interest rates, eligibility, and how you can apply.
Main Features of SBI Utsav Fixed Deposit Scheme
- Launched: August 15, 2024
- Application period: 75 days (ends on October 30, 2024)
- Deposit Term: 1000 days
- Interest Rate: 6.10% per annum on 1000-day fixed deposits
- Senior Citizens get an extra 0.50% interest rate
- Only for SBI account holders
Updated Interest Rates in SBI Utsav Fixed Deposit Scheme 2025
SBI has also increased interest rates on fixed deposits under Rs 2 crore starting August 13, 2024. The updated rates are:
- 1 year to less than 2 years: 5.45% (up from 5.30%)
- 2 years to less than 3 years: 5.50% (up from 5.35%)
- 3 years to less than 5 years: 5.60% (up from 5.45%)
- 5 years to 10 years: 5.65% (up from 5.50%)
Senior citizens get an extra 0.50% on these rates. Also, SBI has introduced the “SBI WeCare” fixed deposit that offers an additional 0.30% over these rates for senior citizens on retail term deposits of 5 years or more until September 30, 2024.
SBI Utsav Fixed Deposit Scheme Details
| Scheme Name | SBI Utsav Fixed Deposit |
| Launched on | 15 August 2024 |
| Launched By | State Bank of India (SBI) |
| Eligible Beneficiaries | SBI Account Holders |
| Official Website | https://www.onlinesbi.com/ |
Why Did SBI Launch the Utsav Fixed Deposit Scheme?
SBI started this scheme to honor India’s 76th Independence Day celebration. The bank wants to offer customers a special fixed deposit scheme with better interest returns to encourage more savings. It also aims to benefit senior citizens with higher interest payouts during this special scheme period from August 15 to October 30, 2024.
Benefits of SBI Utsav Fixed Deposit Scheme
- Highest interest rate of 6.10% on 1000-day deposits, higher than many regular fixed deposit schemes.
- Extra 0.50% interest for senior citizens, making it appealing for older SBI account holders.
- Interest rates recently increased by 15 basis points on all fixed deposits below Rs 2 crore.
- A safe option to invest in a trusted bank and earn steady returns.
- Additional interest rate increase on medium- to long-term fixed deposits, supporting different investment needs.
Who Can Apply for SBI Utsav Fixed Deposit Scheme?
To apply for this scheme, you must:
- Have an SBI savings or current account.
- Be an Indian citizen.
- Be 18 years or older.
Documents Needed to Apply
- Proof of Identity (Aadhar card, PAN card, etc.)
- Proof of Address
- SBI bank account details
- Email ID linked to your SBI account
- Mobile number linked with your SBI bank account
How to Apply for SBI Utsav Fixed Deposit Scheme in 2025
Currently, SBI does not offer online applications for the Utsav Fixed Deposit Scheme. You need to follow these steps offline:
- Visit the nearest SBI branch in your city.
- Ask for the SBI Utsav Fixed Deposit Scheme application form.
- Fill out the form carefully with all required information.
- Attach the needed documents listed above.
- Submit the form to the bank official at the branch.
- Wait for bank approval and then start earning interest under this scheme.
Feel free to check SBI’s official site for any future updates or changes in the scheme.
With the SBI Utsav Fixed Deposit Scheme, you can get better interest rates and special benefits, especially if you are a senior citizen. If you want to save safely and earn guaranteed returns, this scheme is a good option to consider in 2025.