SBI FD Scheme : The country’s most trusted government bank, the State Bank of India (SBI), has launched a new Fixed Deposit (FD) scheme for investors that offers excellent returns along with safe investment. This time, the bank has revised its interest rates and announced better returns for its customers than before. Under this new FD scheme, if a customer invests ₹2 lakh, they can get a guaranteed maturity amount of up to ₹3,77,208. This scheme has been specially designed for investors who want stable and reliable profits in a risk-free investment.
What is SBI’s new FD scheme?
This FD scheme by SBI has been introduced to provide investors with a safe and fixed return. The bank has made the interest rate attractive so that both general customers and senior citizens can benefit more. General customers will receive interest of up to 7.10% per annum, while senior citizens will get an additional 0.50%, making it 7.60% per annum.
The minimum investment amount in this scheme is ₹1,000, and there is no maximum limit. Customers can open an FD for a period ranging from 1 year to 10 years, depending on their preference.
How much return will you get on an investment of ₹2 lakh?
If a customer invests ₹2 lakh in this new FD scheme for a period of 10 years, they will receive a total of ₹3,77,208 at an interest rate of 7.10%. On the other hand, if the investor is a senior citizen, they will get the benefit of additional interest, and their maturity amount may increase to ₹3,94,200. This means that by investing in this FD scheme, customers not only get guaranteed returns but also complete safety of their principal amount.
Why is SBI’s FD scheme special?
As the largest and most trusted bank in India, SBI has always been the first choice of investors. The biggest advantage of its FD schemes is risk-free and stable income. Under this scheme, customers get a fixed interest rate along with the safety of a government-backed bank.
In addition, special benefits like extra interest for senior citizens, auto-renewal option, and the facility to take a loan against the FD make this scheme even more attractive. Moreover, if you choose a Tax Saver FD, you can also get tax benefits of up to ₹1.5 lakh under Section 80C of the Income Tax Act.
Open your FD online
SBI has made the process of opening an FD very easy through digital platforms. Now customers can start their FD from home using the SBI YONO app or internet banking. Simply log in, go to the “Fixed Deposit” section, select the amount and tenure, and click on “Confirm.” Your FD will be created within minutes, and the interest calculation will start automatically.
If you prefer, you can also visit your nearest SBI branch and open an FD offline.
A great opportunity for investors
At a time when the stock market remains uncertain and volatile, SBI’s new FD scheme is emerging as a safe and stable investment option. Not only is this scheme reliable, but it also offers higher returns due to attractive interest rates. For investors who do not want to take risks and are looking for guaranteed income, this FD scheme is an excellent choice. Even people starting with a small amount can earn good benefits by investing for the long term.
Disclaimer: This article has been written for informational purposes only. Interest rates and terms & conditions may change from time to time. Before making any investment, please confirm the latest interest rates and rules on SBI’s official website or at the nearest SBI branch.