SBI Latest FD Rates: This is what you can get on Rs 10 lakh investment in 1-year, 3-year, and 5-year tenures
SBI Senior Citizen FD: Senior persons with an amount of more than Rs 10,000 can enjoy a 0.50 per cent higher SBI FD interest rate.
State Bank of India (SBI) offers various investment schemes to senior citizens and others. These include 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 public lender also provides one-year, three-year, and five-year fixed deposit schemes.
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State Bank of India FD 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:
SBI FD tenure
The SBI FD tenure ranges from seven days to 10 years.
Loan against FD
SBI also provides a loan facility against FD.
SBI nomination facility
SBI offers a nomination feature, allowing depositors to nominate family members or spouses to collect the maturity money.
SBI senior citizen FD rates
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 10 lakh deposit in 1-5 years tenure?
If you invest Rs 10 lakh in SBI FD for one year; you will get Rs 10,69,754 on maturity, Rs 12,22,393 in three years, and Rs 13,80,420 in five years.
What a senior citizen will get on a Rs 10 lakh deposit in 1-5 years tenure?
If a senior citizen invests Rs 10 lakh in SBI FD for one year, they will get Rs 10,75,023 on maturity, Rs 12,40,547 in three years, and Rs 14,49,948 in five years.