In today’s time, SBI (State Bank of India) FD scheme is a great opportunity for investors. Whether you are a small investor or a big one, SBI’s fixed deposit scheme promises good returns to everyone.
Did you know? Instead of keeping money in a savings account, it is better to invest it in SBI as an FD. This will give you safe and better returns. In this article, we will give you complete information about the interest rate of SBI FD scheme, investment period and its benefits.
SBI Fixed Deposit Scheme: Why is it special?
By investing in SBI FD scheme, you are likely to get a higher interest rate than other banks. This scheme is great for those who want to invest their money in a safe manner and expect good returns. The interest rate of FD in SBI varies over time, and there are options ranging from short term to long term. In this scheme, you have to invest a lump sum and get your deposit back with interest on completion of the time.
How to invest in SBI FD?
The minimum investment amount to open an SBI FD account is ₹1000. There is no maximum investment limit in this, that is, you can invest as per your convenience. The tenure of SBI FD ranges from 7 days to 10 years. This gives you the opportunity to choose the right period according to your need and investment plan.
How much return will you get on 5 years investment?
If you invest in SBI FD scheme for 5 years, you will get an interest rate of 6.5%. For example, if you invest ₹6,00,000, then after 5 years you will get a total of ₹8,28,252, out of which ₹2,28,252 will be received as interest. This is an attractive return that will give you better returns on your investment.
Special benefits for senior citizens
SBI gives special benefits to its senior citizen customers. While general citizens get an interest rate of 7.1%, senior citizens get an interest rate of 7.6% in SBI FD scheme. This additional interest rate is a great opportunity for senior citizens, so that they can get more returns on their investment.
Open SBI FD account online from home
Now you do not need to go to the bank branch to open an FD account. SBI has started the facility of opening an online FD account for its customers. For this you have to use the Yono banking app. From here you can open an FD account and invest according to your capacity. This facility saves time as well as gives you the opportunity to invest online easily.
Benefits of SBI FD Scheme:
Safe investment: Investing in SBI FD scheme is one of the safest options.
Good returns: This scheme always gives you good returns.
Flexibility: In this, you get the facility to choose the period as per your need.
Additional benefits: There is a provision of additional interest rate for senior citizens.
SBI FD Scheme: The right choice for you
SBI FD scheme not only keeps your money safe but also gives you excellent returns. You can invest in this scheme according to your investment amount and period and get good returns on your money.
So what are you waiting for? Invest in SBI FD scheme today and secure your future.