The State Bank of India (SBI) has introduced a unique term deposit programme called “Utsav Deposit.” This fixed deposit scheme has higher interest rates and is only available for a limited time.
Under the Utsav Fixed Deposit Scheme, SBI is offering an interest rate of 6.10% per annum on fixed deposits with a tenure of 1000 days. And senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate.