SBI 3-year FD vs SBI 5-year FD: Know which fixed deposit scheme can give you higher returns on Rs 2 lakh, Rs 4 lakh, Rs 6 lakh investments
SBI provides 6.75 per cent interest rates to general citizens on a 3-year FD scheme while the PSU bank gives a 6.50 per cent interest rates on a 5-year FD scheme.
State Bank of India (SBI) offers a variety of investment schemes. These include regular FDs, special FDs like Amrit Vrishti, and senior citizen special schemes among others. In FDs, you can deposit money for a minimum of seven days and a maximum of 10 years. SBI offers different FDs with different tenures and interest rates. The benefits of FDs may vary from bank to bank. A look at some of them:
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Auto-renewal
FDs get automatically renewed at the time of maturity.
Premature withdrawal
As per your need, you can also make premature withdrawals.
Loan facility
You can also take the benefit of a loan on some fixed deposits.
Additional interest for senior citizens
banks offer extra interest on FDs for senior citizens.
SBI 3-year FD
SBI provides 6.75 per cent interest rates to general citizens on a 3-year FD scheme.
SBI 3-year FD: Maturity amount on Rs 2 lakh investment
You will get Rs 2,44,479 on Rs 2 lakh investment in three years.
SBI 3-year FD: Maturity amount on Rs 4 lakh investment
You will get Rs 4,88,957 on Rs 4 lakh investment in three years.
SBI 3-year FD: Maturity amount on Rs 6 lakh investment
You will get Rs 7,33,436 on Rs 6 lakh investment in three years.
SBI 5-year FD
SBI provides 6.50 per cent interest rates to general citizens on a 5-year FD scheme.
SBI 5-year FD: Maturity amount on Rs 2 lakh investment
You will get Rs 2,76,084 on Rs 2 lakh investment in five years.
SBI 5-year FD: Maturity amount on Rs 4 lakh investment
You will get Rs 5,52,168 on Rs 4 lakh investment in five years.
SBI 5-year FD: Maturity amount on Rs 6 lakh investment
You will get Rs 8,28,252 on Rs 6 lakh investment in five years.