State Bank of India (SBI) is offering attractive interest rates of up to 7.15% on its Fixed Deposit (FD) schemes. Especially the “Amrut Varsha Special FD” and higher interest rates are available for senior citizens.
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SBI fixed deposit (FD) schemes: State Bank of India (SBI) offers attractive interest rates on its fixed deposit (FD) schemes. The country’s largest public sector bank currently offers interest rates ranging from 3.05 per cent to 7.15 per cent on FD accounts. FDs can be opened with SBI for a minimum tenure of 7 days to a maximum tenure of 10 years. After the completion of the stipulated tenure, customers get the full amount back along with guaranteed interest.
SBI is currently offering higher interest rates on its special “Amrut Varsha Special FD Scheme”. This 444-day special FD scheme offers interest of 6.45 per cent for general citizens, 6.95 per cent for senior citizens and 7.05 per cent for super senior citizens. This scheme can be a good option for customers to earn a stable income with low risk.
Apart from that, SBI also offers good interest rates on FD schemes of 5 to 10 years. For this tenure, general citizens can get interest of 6.05 percent, senior citizens can get 7.05 percent and super senior citizens can get up to 7.15 percent. This FD scheme can prove to be beneficial especially for long-term savings.
If a common citizen makes an FD of ₹2,00,000 in SBI for a period of 6 years, then at maturity he will get a total of approximately ₹2,86,747. This will include interest of ₹86,747. Similarly, for senior citizens, on the same period and amount, a total of ₹3,04,184 will be received at maturity, of which ₹1,04,184 will be received as interest.
If a super senior citizen deposits ₹2,00,000 in a 6-year FD with SBI, he will get a total of ₹3,05,983 at maturity. This will include a fixed interest of ₹1,05,983. Thus, SBI’s FD scheme can be a reliable option to earn a fixed income with a safe investment.
