The country’s largest government bank SBI has given great news to its investors. The bank has changed the interest rates on FD. Let us tell you that SBI has increased the interest rates on fixed deposits (FD) of less than Rs 2 crore. These interest rates have come into effect from May 15.
After this decision of SBI, people will get more benefits than before. If you also want to avail the benefits, then you can invest in SBI’s FD scheme.
Let us know that if you make an FD of Rs 10 lakh in SBI for 3 years, then how much benefit you will get on maturity and how much interest will also be there.
Case 1:
If an ordinary customer makes a fixed deposit of Rs 10 lakh at the rate of 6.75% for 3 years, then on maturity there will be a profit of Rs 12 lakh 22 thousand 392. Rs 2 lakh 22 thousand 292 will be received as interest.
Case 2:
If a senior citizen makes an FD of Rs 10 lakh at the rate of 7.25% for 3 years, then the profit on maturity will be Rs 12 lakh 46 thousand 546. Rs 2 lakh 46 thousand 546 will be received as interest.
Benefits of SBI FD:
safe investment options
Guaranteed Returns
tax benefit
loan facility
Different types of FD schemes
Process to open SBI FD:
Visit any branch of SBI.
Fill the FD form.
Submit the required documents.
Choose the FD scheme of your choice.
Make a deposit.
SBI FD is a safe and profitable investment option. If you want good returns while keeping your money safe, then SBI FD can be a good option for you.
SBI Fixed Deposit Interest Rates (3 Years)
| Customer Category | Interest Rate (per year) |
|---|---|
| Regular Customer | 6.75% |
| Senior Citizen (Above 60 years) | 7.25% |
pay attention:
The above calculations are only approximate. Actual interest amount may vary depending on changes in interest rates and deposit tenure.
Before investing in FD, read the terms and conditions of the bank carefully.
This article has been written to provide you information about SBI FD. If you have any queries, please visit an SBI branch or contact the customer care of the bank.
