SBI Sarvottam: The country’s largest public sector bank, State Bank of India (SBI), is running a special scheme for retired senior citizens. SBI Sarvottam scheme is offering 7.90 percent interest
SBI Sarvottam: The country’s largest public sector bank, State Bank of India (SBI), is running a special scheme for retired senior citizens. SBI Sarvottam scheme is offering 7.90 percent interest. This is more than many schemes run by the government. Although, it has some rules but it is a useful scheme for senior citizens to earn more returns.
SBI Sarvottam FD scheme is the best among these government schemes
SBI Sarvottam scheme is offering more interest than PPF, NSC and post office savings schemes. The biggest advantage of this scheme of SBI is that it is a scheme of only one year and two years. That is, you can create a big fund in a short time. In SBI Sarvottam scheme, customers are getting 7.4 percent interest on 2-year deposits i.e. FD. This interest rate is for the general public. At the same time, senior citizens are getting 7.90 percent interest on this scheme. At the same time, the general public is getting 7.10 percent interest on one year investment and senior citizens are getting 7.60 percent interest.
Senior citizens will get the benefit of interest
For senior citizens, the annual yield on 1-year Sarvottam deposit of more than Rs 15 lakh to Rs 2 crore is 7.82 percent. Whereas, the yield for two-year deposit is 8.14 percent. SBI is offering 7.77 percent interest for 1 year and 7.61 percent interest for 2 years to senior citizens on bulk deposits of Rs 2 crore to Rs 5 crore. Compound interest is available in this scheme.
You can invest a minimum of Rs 15 lakh – the scheme is best for them
In SBI Sarvottam scheme, customers can invest from a minimum of Rs 15 lakh to Rs 2 crore. This scheme is best for those who have retired and have PF fund money. They can invest in this scheme of SBI. There is also an option to invest more than Rs 2 crore in it but the interest is 0.05 percent less. However, there is no information on the website about how long you can invest money in this scheme.
You cannot withdraw money from SBI Sarvottam scheme before maturity
You cannot withdraw money prematurely from SBI Sarvottam scheme. These are non-callable schemes in which you cannot withdraw money before time. If you withdraw money before time, you will have to pay a charge.
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