SBI Fixed Deposit : After the RBI repo rate cut, many banks reduced the interest rates on savings schemes. Recently, State Bank of India (SBI) also lowered the interest rates on its savings schemes. However, SBI continues to offer attractive interest rates on its Fixed Deposit (FD) scheme, which can still benefit investors.
If you’re thinking of investing in SBI’s FD scheme, here’s some great news for you. By investing just ₹1 lakh, you can earn ₹24,604 in interest. Let’s dive into the details of this scheme and how you can benefit from it.
SBI has revised the interest rates on its FD schemes. For the general public, the interest rates range from 3.50% to 7.05%. For senior citizens, the rates are between 4.00% and 7.55%. Previously, the general public was getting a rate between 3.50% to 7.25%, and senior citizens used to get up to 7.75%.
Though the rates have decreased slightly, SBI Fixed Deposit scheme remains a good option for people looking for safe and stable investments.
For 2 to 3-year FD schemes, the interest rates are now 6.90% for the general public and 7.40% for senior citizens. Before the rate cut, these rates were 7.00% and 7.50%, respectively. So, there’s a 0.10% reduction in the interest rate. Even with this decrease, the FD scheme remains a good choice for anyone looking to grow their savings safely.
For senior citizens, the 3-year FD scheme can be very profitable. If you invest ₹1 lakh, you will earn an interest of ₹24,604 at maturity. This is a great opportunity for senior citizens who want to grow their money with minimal risk.
If you’re under 60 years old, you can still benefit from SBI Fixed Deposit scheme. For the general public, investing ₹1 lakh in a 3-year FD will give you a total of ₹1,22,781 at maturity, which includes ₹22,781 as interest.
If you’re under 60 and invest ₹1 lakh in SBI’s 3-year FD scheme, you’ll get a total of ₹1,22,781 at maturity. This amount includes ₹22,781 as interest. It’s a good option for those who want to earn fixed returns over a few years.
SBI’s FD scheme continues to be a great investment option, even with the recent interest rate cut. Although the rates have been reduced slightly, both senior citizens and the general public can still benefit from this scheme. If you invest in the 3-year FD scheme, you will receive a good return on your investment.
This scheme is ideal for those who want a safe investment option with guaranteed returns. If you’re looking to grow your savings steadily, SBI Fixed Deposit scheme can be a good choice. It provides a secure way to build your wealth over time.
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