State Bank of India (SBI), the country’s largest government bank, is offering attractive interest rates on fixed deposits (FD) to its customers. Customers can make FD in the bank only for a period ranging from 7 days to 10 years. You get guaranteed returns by investing in different FD schemes of SBI, because it is a government bank and it is controlled by the government. If a person invests Rs 3 lakh in a special FD scheme of SBI, then on maturity he can get fixed interest up to Rs 1,58,974. This is the reason why people who want safe investment and fixed income consider SBI’s FD as a reliable option.
How much interest is SBI paying on FD?
State Bank of India (SBI) is offering excellent interest rates on Fixed Deposit (FD) to its customers. The bank is offering interest ranging from minimum 3.05 percent to maximum 7.15 percent on FD schemes of different tenures. On SBI’s FD of shortest duration i.e. 7 days, customers are getting interest ranging from 3.05 percent to 3.65 percent. Whereas on FD schemes of 46 days to 179 days, the bank is giving returns ranging from 4.90 percent to 5.50 percent. Apart from this, customers are getting the benefit of interest ranging from 5.65 percent to 6.25 percent on FDs with a tenure of 180 days to 210 days. If a customer wants to invest for a long term, then SBI’s FD scheme of 5 years to 10 years can be a better option. The bank is offering interest ranging from 6.05 percent to maximum 7.15 percent on FD of this period.
On depositing ₹3,00,000 you will get fixed interest up to ₹1,58,974
If an ordinary citizen invests Rs 3 lakh in a 6-year FD scheme of State Bank of India, then at the time of maturity, he will get a total of Rs 4,30,120 with interest. That means you will get interest of around Rs 1,30,120 in 6 years. At the same time, if a senior citizen deposits Rs 3 lakh in this scheme, then on maturity he will get a total of Rs 4,56,276. This will include Rs 1,56,276 only as interest. Apart from this, very senior citizens will get the most benefit in this scheme. By depositing Rs 3 lakh, he will get a total of Rs 4,58,974 after 6 years, of which Rs 1,58,974 will be included as interest.
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
