SBI FD Scheme : The State Bank of India (SBI), the country’s largest public sector bank, offers a variety of Fixed Deposit (FD) schemes to its customers. SBI provides safe and guaranteed returns for investors who wish to grow their savings. Under this scheme, customers can invest their money for a fixed period of time and earn interest at predetermined rates.
In this article, we will explain how much return you can get if you deposit ₹1,00,000 in an SBI FD Scheme. Complete details are given below.
SBI FD Scheme Rates : A Secure Savings Option
SBI has brought some relief for customers, although some people may also feel disappointed. Recently, the Reserve Bank of India (RBI) reduced the repo rate by 1.00%. With this cut, all types of loans have become cheaper, but the interest rates on FD schemes and other savings options have also decreased.
However, SBI still offers attractive returns on selected tenure-based FD schemes. In fact, you can earn up to ₹22,419 as fixed interest by investing just ₹1,00,000 in certain SBI FD plans.
SBI FD Interest Rate up to 7.10%
Currently, SBI offers fixed deposit interest rates ranging from 3.30% to 7.10%.
- You can invest in an SBI FD for as short as 7 days or as long as 10 years.
- Under its special 444-day “Amrit Kalash FD Scheme,” SBI offers the highest interest of 6.60% for regular customers and 7.10% for senior citizens.
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For a 3-year FD scheme, regular customers get 6.30% interest, while senior citizens enjoy 6.80% interest.
Deposit ₹1,00,000 in SBI FD and Earn Up to ₹22,419 Fixed Interest
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For Regular Customers:
If you deposit ₹1,00,000 in a 3-year SBI FD scheme, you will receive a maturity amount of ₹1,20,626. This includes ₹20,626 as fixed interest.
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For Senior Citizens:
If you are a senior citizen and invest the same amount in a 3-year SBI FD, your maturity amount will be ₹1,22,419. This includes ₹22,419 as fixed interest.
With SBI FDs, you are assured of guaranteed returns after the chosen tenure, without any risk or uncertainty.