Highest SBI FD Rates: This is what you can get on Rs 8 lakh investment in 1-year, 3-year, and 5-year tenures
SBI Highest FD Rates: The PSU bank provides 7.30 per cent interest rates to senior citizens on one-year tenure while others get 6.80 per cent interest rates.
The State Bank of India (SBI) provides various investment schemes to senior citizens and others, including the Amrit Vrishti FD scheme, which offers a 7.75 per cent interest rate to senior citizens and a 7.25 per cent interest rate to others. The PSU bank also offers one-year, three-year, and five-year fixed deposit schemes.
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SBI FD interest rates
A look at the interest rate on SBI's FD schemes of 1-year, 3-year, and 5-year tenures for senior citizens and others:
What is the SBI FD tenure?
The SBI FD tenure ranges from seven days to 10 years.
SBI nomination facility
SBI offers a nomination feature, allowing depositors to nominate family members or spouses to collect the maturity money.
Can you take a loan against FD?
SBI also provides a loan facility against FD.
How much interest rate does SBI offer to senior citizens on FDs?
Senior persons with a sum of more than Rs 10,000 can enjoy a 0.50 per cent higher SBI FD interest rate.
Auto-renewal
Depositors can also avail the auto-renewal facility.
SBI 1-year FD interest rates
The PSU bank provides 7.30 per cent interest rates to senior citizens on one-year tenure while others get 6.80 per cent interest rates.
SBI 3-year FD interest rates
The PSU bank provides 7.25 per cent interest rates to senior citizens on three-year tenure while others get 6.75 per cent interest rates.
SBI 5-year FD interest rates
The PSU bank provides 7.50 per cent interest rates to senior citizens on five-year tenure while others get 6.50 per cent interest rates.
What will you get on a Rs 8 lakh deposit in 1-5 years tenure?
If you invest Rs 8 lakh in SBI FD for one year; you will get Rs 8,55,803 on maturity, Rs 9,77,914 in three years, and Rs 11,04,336 in five years.
What a senior citizen will get on a Rs 8 lakh deposit in 1-5 years tenure?
If a senior citizen invests Rs 8 lakh in SBI FD for one year, they will get Rs 8,60,018 on maturity, Rs 9,92,438 in three years, and Rs 11,59,958 in five years.