SBI New Scheme: Today there are many options available for investment, but for those who do not want to take risk on their investment, the State Bank of India (SBI) Fixed Deposit (FD) scheme is a great option. By investing a lump sum amount in this scheme, you can get fixed returns, which is based on the attractive interest rates offered by the bank.
SBI’s FD scheme! A safe investment option
SBI’s Fixed Deposit scheme is best suited for those investors who want to get good returns while keeping their money safe. To avail this scheme, you can open your FD account by visiting the nearest SBI branch or online through SBI YONO app. How much return you will get in this scheme depends on the amount invested and the period.
Start investing from ₹ 1,000
In SBI’s FD scheme, you can start investing with just ₹ 1,000. There is no maximum investment limit, that is, you can invest as much as you want according to your capacity. The bank offers different interest rates for different deposit periods, which usually range from 3% to 7% per annum. The bank also offers additional interest rate benefits for senior citizens.
Return on investment of ₹3.5 lakh
If a person makes a lump sum investment of ₹3.5 lakh in SBI’s FD scheme and keeps it for 5 years, then an interest rate of 6.5% will be provided by the bank. After this period, the investor will receive a total amount of ₹4,83,147. This is an example of safe and fixed returns, which can give investors good returns without any risk.
How to invest in SBI FD?
Investing in SBI’s FD scheme is very simple. For this, you can open an account by visiting your nearest SBI branch. Apart from this, you can also make this investment using SBI’s internet banking facility or SBI YONO app. To invest you will need documents like identity proof, address proof and passport size photo.