On the event of India’s 76th Independence Day, many banks have declared new fixed deposit schemes in August 2022. These are launched with appealing interest rates for a limited period. Following are the details of newly launched Fixed Deposit Schemes.

  1. State Bank of India’s Utsav Fixed Deposit

    SBI has launched a new term deposit scheme called the “Utsav Deposit.” This fixed deposit will pay 6.1 percent interest starting August 15, 2022. This offer is valid for 75 days, or until October 30, 2022.

  2. Karnataka Bank’s KBL Amrit Samriddhi FD

    In line with the celebration of the nation’s 75th independence as Azadi Ka Amrit Mahotsav, Karnataka Bank has introduced a new Term Deposit Scheme, KBL Amrit Samriddhi under ACC and Fixed Deposit for a tenure of 75 weeks (525 days). The annual interest rate for this Deposit Scheme is 6.10%.

  3. Bank of Baroda’s Tiranga Deposit Scheme

    The interest rates for the Baroda Tiranga Deposits’ two tenor buckets are 5.75 percent for 444 days and 6.00 percent for 555 days. The new scheme is effective August 16 and will last until December 31, 2022, and it applies to retail deposits of less than Rs 2 crore.

  4. Axis Bank’s Special FD scheme

Axis Bank is now offering an interest rate of 6.05% on 75-week FDs which are FDs of 1 year, 5 months, and 7 days. The bank is offering them a 6.80% interest              rate on a 75-week FD for senior citizens. This offer is valid from August 18 – 25.

     5. Ujjivan Small Finance Bank

Ujjivan SFB said that it is offering a rate of 7.5% on three tenures—75 weeks, 75 months, and 990 days—in honor of India’s 75th anniversary of independence.

If you want to know which Fixed Deposit Scheme is best, feel free to contact us at 9460825477