SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Amrit Vrishti Scheme: On its 444 days - Amrit Vrishti scheme, SBI gives 7.75 per cent interest rate to senior citizens.
State Bank of India (SBI) offers various fixed deposit (FD) plans to general and senior citizens. Usually, every bank gives higher returns on FD to senior citizens than general citizens.
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SBI FD schemes
In this article, we will discuss a few FDs interest rates provided by public lender.
SBI Amrit Vrishti FD scheme
On its 444 days - Amrit Vrishti scheme, SBI gives 7.75 per cent interest rate to senior citizens.
SBI 1-year FD scheme
To senior citizens, SBI gives 7.30 per cent interest rate on 1-year FD.
SBI 3-year FD scheme
To senior citizens, SBI gives 7.25 per cent interest rate on 3-year FD.
SBI 1-year FD scheme
To senior citizens, SBI gives 7.50 per cent interest rate on 5-year FD.
SBI in 1995
The government passed an Act of Parliament to form SBI in 1955 out of what used to be IBI, and what was a network of 250 branches in 1921 has grown to 22,500 now.
SBI raises Rs 10,000 crore
Country's largest lender State Bank of India on Monday said it has raised Rs 10,000 crore through its seventh infrastructure bond issuance.
SBI fundraising
The issue attracted overwhelming response from investors with bids in excess of Rs 11,500 crore and was oversubscribed in excess of 2 times against the base issue size of Rs 5,000 crore, it said.
SBI to open 500 more branches in FY25
Finance Minister Nirmala Sitharaman on Monday said SBI will open another 500 branches to take its overall network to 23,000 by the end of FY25.
How will SBI use fresh funding?
"The proceeds of bonds will be utilized in enhancing long-term resources for funding infrastructure and affordable housing segments," SBI said.