SBI Fixed Deposit: Want to keep your money safe and also get good returns on it, Then SBI Fixed Deposit can be a great option for you.
SBI is one of the largest banks in the country and the interest rate you get on its fixed deposit scheme is quite attractive. Let’s know about SBI’s fixed deposit in detail.
SBI’s Fixed Deposit: Profit with Security
SBI offers many types of fixed deposit schemes, but the most popular are its long-term FDs. In these, you get better interest rates.
If you want to invest your money for a long time, then SBI’s fixed deposit can be a good option for you.
Features of SBI Fixed Deposit
High interest rate on long-term: SBI offers the highest interest rate on long-term FDs.
Security: Your money is safe due to the reliability of the bank.
Flexibility option: You can choose the maturity period as per your need.
Senior Citizen Benefits: Senior Citizens get the facility of an additional interest rate.
SBI Fixed Deposit Interest Rates
The interest rates on SBI fixed deposits keep changing from time to time. Therefore, you should check the official website of the bank for the latest interest rates. However, in general, you get more interest in long-term FDs.
How to do FD in SBI
It is very easy to do FD in SBI. You can do FD in the following ways:
SBI Branch: You can do FD by visiting the nearest SBI branch and filling out the form.
Online Banking: You can easily do FD through SBI net banking or a mobile app.
ATM: FD facility can also be available from some ATMs.
Profit from Fixed Deposit
Suppose you make a fixed deposit of Rs 10 lakh for 5 years and you get an interest rate of 7%. So on maturity, you will get around Rs 19 lakh 10 thousand.
That is, you will get interest of Rs 9 lakh 10 thousand. SBI’s fixed deposit gives good returns along with keeping your money safe.
Therefore, if you want to invest for a long period then this can be a better option for you.
SBI’s fixed deposit is a good option to keep your savings safe as well as increase it. The attractive interest on long-term FD can increase your wealth even more. However, before investing, also compare other options available in the market.