If you are thinking of getting your money fixed in the country’s largest bank, State Bank of India (SBI), then know that for how many years will you get higher returns on FD in SBI? Let us know about it. In detail.
In terms of investment, a large section of the country still relies on fixed deposits. FD can be made in any bank or post office. FD is made for different time periods at all places. Interest rates also vary according to time. However, the objective of all investors is to get better and guaranteed returns on investment.
In such a situation, if you are thinking of getting your money fixed in the country’s largest bank, State Bank of India (SBI), then know that for how many years will you get higher returns on FD in SBI? If you invest Rs 5 lakh in FD, then how much profit will you get per year and how much will your amount increase.
Know the interest rates on different FDs in SBI
7 days to 45 days – 3.00%
180 days to 210 days – 5.25%
More than 211 days but less than 1 year – 5.75%
More than 1 year but less than 2 years – 6.80%
More than 2 years but less than 3 years – 7.00%
More than 3 years but less than 5 years – 6.50%
Above 5 years and up to 10 years – 6.50%
400 days Amrit Kalash Deposit Scheme – 7.10%
Additional interest to senior citizens
Senior citizens get .50 percent more interest on all these FD schemes. But on schemes for more than 5 years and up to 10 years, 1 percent more interest is available. In this, senior citizens are given interest at the rate of 7.50%.
Know how much the amount of Rs 5 lakh will become according to the year
If you want to deposit Rs 5 lakh in SBI, then how much will your amount increase in 1, 2, 3, 5 and 10 years. Know the calculation according to SBI FD Calculator-
With 5.75% interest on FD up to 1 year – Rs 5,29,376
With 6.80% interest on FD up to 2 years – Rs 5,72,187
With 7.00% interest on FD up to 3 years – Rs 6,15,720
On FD up to 5 years with 6.50% interest – Rs 6,90,210
With 6.50% interest on FD up to 10 years – Rs 9,52,779
What will be the amount of senior citizen?
FD up to 1 year with 6.25% interest – Rs 5,31,990
With 7.30% interest on FD up to 2 years – Rs 5,77,837
With 7.50% interest on FD up to 3 years – Rs 6,24,858
With 7.00% interest on FD up to 5 years – Rs 7,07,389
With 7.50% interest on FD up to 10 years – Rs 10,51,175
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