New Delhi SBI FD Interest Rate: If your account is in the country’s largest government bank SBI, then this news can prove to be very important for you. Because at this time SBI has increased its FD interest rates.
SBI is offering attractive interest rates on FDs ranging from 7 days to 10 years with attractive features and benefits. At the same time, 0.8 percent extra interest is being given to the elderly on fixed deposits. It is giving strong returns to the common people in interest rates ranging from 2.90 per cent to 5.40 per cent.
Let us tell you that Fixed Deposits provide guaranteed returns and savings for customers of all ages. In such a situation, the bank is providing strong interest on the FD chosen by the customers. In this article, interest on fixed deposits of less than 2 crores has been explained in detail.
Let us tell you that SBI offers many types of fixed deposits to its customers. Through all this scheme customers can get different benefits. Customers from SBI have a lot of fixed deposits.
List of SBI FD Scheme
- SBI Tax Saving Scheme
- SBI Annuity Deposit Scheme
- SBI Fixed Deposit Investment Scheme
- SBI WeCare
Interest on term wise FD of SBI
SBI Short Term Deposit- Let us tell you that such accounts are opened for a period of 7 days to 1 year. In this, 2.90 percent to 4.40 percent interest is offered to the customers every year.
SBI Medium Term Deposit- Now let’s talk about Medium Term Deposit, in this you can invest money from 1 year to 5 years. In this, customers get interest every year at the rate of 5.0 percent. At the same time, for long term, the benefit of interest is available at the rate of 5.30 percent. In this, consumers are paid at the rate of 5.40 per cent. This FD scheme ranges from 5 years to 10 years.
FD scheme for the elderly- In the fixed deposit scheme of SBI, the elderly get extra benefits at the rate of 0.80 per cent. On the other hand, for the elderly, interest is available at the rate of 3.40 per cent to 6.20 per cent on fixed deposits.
Benefits available on SBI FD
- This investors get the benefit of 5.40 percent interest rate on their deposits. On the other hand, the senior citizens get an interest rate of up to 6.20 per cent in this case.
- These rates are comparable to most participants in the market. Bajaj Finance is giving interest at the rate of 7.60 per cent to ordinary people, while giving interest at the rate of 7.85 per cent to the elderly.
- If you want to extend the tenure of your deposit, SBI gives you the option to renew your FD. Your deposit amount gets renewed for the same period as the original deposit. This facility is available for some FD schemes.
- After this, let us tell you that if you are going to invest in FD, then you can invest at least 1000 rupees. This makes investing quite easy for most people in the country. In case of SBI Multi Option FD, the minimum investment is Rs 10,000 and SBI offers an investment of Rs 25,000 annually.
- Apart from this, when you take FD in SBI, you can take loan up to 90% of the remaining amount of FD. You get it on your deposited capital. The interest on these loans ranges from 5.5 per cent to 7.1 per cent.
