SBI Latest FD Rates: Know what senior citizens and others can get on Rs 4,00,000 investment in 1-year, 3-year and 5-year FDs
SBI provides 7.30 per cent interest rate to senior citizens on 1-year FD while it gives 7.25 per cent interest rate on 3-year and 7.50 per cent interest rate on 5-year FDs.
FD (fixed deposit) is considered the safest way of investment as it gives fixed and guaranteed returns on your investment. The interest rate on FDs remains the same as at the time of deposit so investors don't need to worry about market fluctuations. You just need to deposit a sum of money for a fixed tenure as per your need to get interest on it. FDs are also known as term deposits and time deposits.
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PSU bank State Bank of India's FD interest rates
This article will talk about PSU bank State Bank of India's (SBI's) FD interest rates for general and senior citizens. Know what you can get on Rs 4 lakh investment in one year, three years and five years.
FD interest rate
All banks provide different interest rates on FDs. Senior citizens mostly get higher interest rates than general citizens.
What is the SBI FD rate for senior citizens?
SBI provides 7.30 per cent interest rate to senior citizens on 1-year FD while it gives 7.25 per cent interest rate on 3-year and 7.50 per cent interest rate on 5-year FDs.
SBI Amrit Vrishti scheme
In this scheme, senior citizens get 7.75 per cent interest rate on 444 days FD.
What is the SBI FD rate for general citizens?
SBI provides 6.80 per cent interest rate to senior citizens on 1-year FD while it gives 6.75 per cent interest rate on 3-year and 6.50 per cent interest rate on 5-year FDs.
SBI Amrit Vrishti scheme for general citizens
In this scheme, general citizens get 7.25 per cent interest rate on 444 days FD.
SBI Amrit Vrishti scheme- Returns on Rs 4 lakh investment
If a senior citizen invests Rs 4 lakh in Amrit Vrishti scheme, they will get Rs 4,39,718 on maturity while others will get Rs 4,37,064.
SBI 1-year FD
If a senior citizen invests Rs 4 lakh in 1-year FD scheme, they will get Rs 4,30,009 on maturity while others will get Rs 4,27,901.
SBI 3-year FD
If a senior citizen invests Rs 4 lakh in 3-year FD scheme, they will get Rs 4,29,798 on maturity while others will get Rs 4,27,691.
SBI 5-year FD
If a senior citizen invests Rs 4 lakh in 5-year FD scheme, they will get Rs 4,30,854 on maturity while others will get Rs 4,26,641.