Finance News : SBI Bank has launched “Platinum Deposit” with exclusive benefits

State Bank of India (SBI), the country’s largest lender, has launched a special deposit scheme called “SBI Platinum Deposit” to mark the 75th anniversary of the country’s independence. According to Nder, the deposit scheme will be effective till September 14, 2021. SBI tweeted through its official Twitter handle that “It is time to celebrate the 75th anniversary of India’s independence with Platinum Deposit. Term Deposit and Special Benefits for Special Terms are deposited with SBI. The offer is valid till 14 September 2021.” “SBI Platinum Deposit”. Keep reading to learn more about its exclusive benefits.

Deposits and duration of eligible deposits

The validity of this scheme.0 is valid from 15.08.2021 to 14.09.2021 according to the payee. One can deposit Platinum for 75 days, Platinum for 525 days and Platinum for 2250 days.

Eligible deposit

Domestic retail term deposits including NRE and NRO term deposits (
New and renewable deposits
Only term deposits and special term deposit products.
NRE Deposit (for 525 days and 2250 days only)


Other products such as recurring deposits, tax savings deposits, annual deposits, macad deposits, multi-option deposits (MODs), capital gain schemes, etc.

NRE and NRO deposits of workers and senior citizens

sbi bank

Other benefits

According to SBI’s official website, “Senior Citizens and SBI Pensioners will continue to avail benefits under the SBI Waker Scheme for a period of 5 years and above (no additional benefits will be available under the Platinum Deposit).” Here are other benefits of “SBI Platinum Deposit” that you need to know:

Interest Payment:

Term Deposits – Monthly / Quarterly intervals
Special term deposit- on maturity
Interest, net of TDS, credited to customer’s account

Premature Withdrawal: Applicable for term / special term deposits.

Available via: Branch / INB / YONO channels.

Other: Interest rates (below Rs. 2 crore) for all other terms of domestic retail term deposits and NRE and NRO term deposits and all other terms remain unchanged.

Interest rate

Here is the interest rate applicable on “SBI Platinum Deposit” according to SBI’s official website.

Tenor ROI for Public ROI for Senior Citizens
Existing Proposed Existing Proposed
Platinum 75 days 3.90% 3.95% 4.40% 4.45%
Platinum 525 days 5.00% 5.10% 5.50% 5.60%
Platinum 2250 days 5.40% 5.55% ROI relevant beneath SBI WECARE Scheme (6.20%)
Source: SBI


While celebrating the 75th year of India’s independence with Platinum Deposit. Special benefits for term deposits and special term deposits with SBI.

Offer invalid: 14th September 2021

Learn more: https://BANK.SBI/

State Bank of India (ETheofficialsbi) August 15, 2021

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