SBI Sarvottam FD Scheme: The State Bank of India offers various schemes for every Indian citizen. Some schemes offered by SBI are popular among people. But there are some schemes compared that are less known. Today we’ll talk about the SBI Sarvottam scheme, which is also a fixed deposit plan with a high interest rate.
Details about the SBI Sarvottam FD Scheme
Under this scheme, the bank is paying 7.40% to its general customers and an additional 50 basis points to its senior citizen customers at the same time period, i.e., 7.90%. In this scheme of the State Bank of India (SBI), resident individuals and non-individuals customers can open their FD account. Keep in mind that minors and non-resident Indians (NRIs) cannot invest under this special FD scheme of the bank. In this scheme, you can start FD from a minimum of 15.01 lakhs.
Interest rate
On the other hand, you can invest up to a maximum of Rs 2 crore in this special FD scheme. The State Bank of India (SBI) is paying interest of 3% to 7.10% to its general customers. While the bank is paying interest of 3.50% to 7.50% to its senior citizen customers. You can make FDs in the bank for a time period ranging from 7 days to 10 years.
Apart from this, the bank is paying 6.50% interest for its general customers and 7.50% for its senior citizen customers under its tax-saving FD. This scheme is best for those who have retired. When they get money from the PPF fund, they can invest in this scheme. If he invests more than 2 crores in the scheme, then the interest he gets will be reduced by 0.05 percent.
Desclimer: For any financial investment anywhere on your own responsibility, Times Bull will not be responsible for it.