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SBI Special Scheme: Deposit Rs 5 lakh and get Rs 10,51,174 on maturity, know how

SBI Special Schemes: The country’s largest bank SBI offers FDs schemes of different tenures. Customers get the facility of FDs ranging from 7 days to 10 years.

On term deposits of different maturities, SBI gives annual interest ranging from 3% to 6.5% to regular customers and 3.5% to 7.5% to senior citizens.

If a regular customer deposits Rs 5 lakh in SBI’s 10 year maturity scheme, then a total of Rs 9,52,779 will be received on maturity at 6.5 percent annual interest rate. In this there will be fixed income of Rs 452779 from interest.

If a senior citizen deposits Rs 5 lakh in lump sum in SBI’s 10 year maturity scheme, then he will get a total of Rs 10,51,174 on maturity at 7.5 percent annual interest rate. In this, there will be fixed income of Rs 551174 from interest.

Regular customers get 6.5% interest annually on 10 year FD and senior citizens get 7.5% interest. These interest rates are applicable on deposits of less than Rs 2 crore.

Deposits up to Rs 5 lakh in banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). That means, money deposited up to Rs 5 lakh is 100% safe.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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