Investment decisions should be careful and calculated, therefore, more information one gathers, the better placed he or she is in taking investment calls. Various banks and other financial institutions offer a range of financial instruments. State Bank of India or SBI being the largest lender in the country, has a wide range of financial products too. From one bank to another, interest rates on fixed income instruments may vary. 

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Here are the interest rates of fixed deposit (FD), recurring deposit (RD), National Pension System (NPS), Public Provident Fund (PPF) and Senior Citizen Savings Scheme offered by SBI:

Recurring Deposit (RD): It is a monthly deposit scheme. A customer can pay every month an equal installment for a pre-determined period. RD can be for a minimum period of 12 months and a maximum of 120 months. The rates of interest are the same as applicable to the bank's FDs. One can do a minimum monthly deposit of Rs 100 and in multiples of Rs 10. There is no maximum limit, according to the information available on SBI website.

Fixed Deposit (FD): The bank offers interest rates between 5.75 percent and 7.35 percent on fixed deposits for different periods. The general rate is 6.85 percent, while senior citizens are offered 7.35 percent for up to 5 years and 10 years tenure. This is one of the most preferred financial instruments by conservative investors due to assured returns. 

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Public Provident Fund (PPF):  The Scheme offers an investment avenue with decent returns coupled with income tax benefits. An individual can invest a minimum of Rs 500 and up to Rs 1,50,000 per annum in SBI PPF. However, individuals can invest beyond  Rs 1,50,000 per annum, but they will not get tax saving benefits on the additional amount. The interest rate is determined by the central government on a quarterly basis. At present, it is 8 percent per annum. Duration of the scheme is 15 years and it can be extended for 5 years or multiples of the period.

Senior Citizen Savings Scheme (SCSS): Currently, SCSS bears an interest rate of 8.7 percent per year. Senior citizen savings scheme is for the individuals who have attained the age of 60 years and above. Retired people who have attained the age of 55 years or more but less than 60 years can also opt for this scheme.

National Pension System (NPS): Individuals between 18 years and 65 years of age are eligible to open an NPS account, according to information available on the SBI website. The Pension Fund Regulatory & Development Authority (PFRDA) regulates the NPS funds. NPS scheme holders can avail of tax benefits under 80CCE and 80CCD. NPS interests vary from fund to fund. An investor can choose an aggressive, moderate or conservative funds.