SBI Fixed Deposit (FD) Scheme: A Safe Way to Double Your Money
The State Bank of India (SBI), a trusted government bank, has introduced a new Fixed Deposit (FD) scheme. This scheme offers good returns and a secure investment option for everyone. SBI has updated its interest rates, providing better returns for its customers. By investing ₹2 lakh in this FD scheme, you can receive a guaranteed amount of up to ₹3,77,208 upon maturity. This plan is perfect for those seeking stable and reliable profits without any risk.
What is the New SBI FD Scheme?
SBI’s new FD scheme aims to provide investors with safe and fixed returns. The bank has set attractive interest rates to benefit both general customers and senior citizens. General customers can earn interest up to 7.10% per year, while senior citizens receive an additional 0.50%, bringing their interest rate to 7.60% per year.
The minimum investment amount for this scheme is ₹1,000, with no maximum limit. Customers can choose an FD period from 1 year to 10 years, based on their preferences.
SBI FD Scheme: Returns on a ₹2 Lakh Investment
If you invest ₹2 lakh in this new FD scheme for 10 years, you will receive a total of ₹3,77,208 at a 7.10% interest rate. Senior citizens get extra interest, potentially increasing their maturity amount to ₹3,94,200. Investing in this FD scheme ensures guaranteed returns and complete safety for your initial investment.
Why Choose SBI FD Scheme?
SBI is the largest and most reliable bank in India, making it a top choice for investors. The main advantage of SBI’s FD schemes is the promise of risk-free and stable income. This scheme offers a fixed interest rate and the security of a government-backed bank.
Additional benefits include extra interest for senior citizens, an auto-renewal option, and the ability to take a loan against the FD. Furthermore, choosing a Tax Saver FD can provide tax benefits of up to ₹1.5 lakh under Section 80C of the Income Tax Act.
How to Open an SBI FD Online
SBI has simplified the FD opening process through its digital platforms. You can start your FD from home using the SBI YONO app or internet banking. Simply log in, go to the “Fixed Deposit” section, enter the amount and duration, and confirm. Your FD will be created quickly, and interest calculation will begin automatically.
Alternatively, you can visit your nearest SBI branch to open an FD offline.
SBI FD Scheme: A Great Investment Opportunity
In times of stock market uncertainty, SBI’s new FD scheme offers a safe and stable investment option. It is reliable and provides higher returns due to attractive interest rates. This FD scheme is an excellent choice for investors seeking guaranteed income without taking risks. Even those starting with a small amount can benefit from long-term investment.
Disclaimer: This article is for informational purposes only. Interest rates and terms & conditions may change. Please confirm the latest rates and rules on SBI’s official website or at an SBI branch before investing.
Source: SBI Launches Special FD Scheme, Investment of ₹200,000 will give Interest Rate Return of ₹3,77,208.
