SBI (State Bank of India) is the largest state-owned bank in India. This bank offers attractive interest rates to its customers. The annual interest rate on SBI’s fixed deposits currently ranges from 3.05 percent to 7.05 percent. Recently, after the RBI reduced the repo rate, all banks have revised their FD interest rates. Despite this, SBI is still offering attractive returns to its customers.

What is the plan?

If you invest in SBI’s FD (Fixed Deposit) scheme, you can get excellent returns without any risk. The tenure of SBI FD account can be from 7 days to 10 years. Also, there is a ‘Amrit Varsha Special FD’ scheme for 444 days. In this scheme, general citizens get an interest rate of 6.45 percent and senior citizens get up to 6.95 percent. For 5-year FD, the interest rate is 6.05 percent for general citizens, 7.05 percent for senior citizens and 7.15 percent for super senior citizens above 80 years.

How much return will you get if you deposit Rs 2 lakh?

If a general citizen deposits Rs 2 lakh in SBI FD for 5 years, then at the end of the tenure, he will get a total of Rs 2,70,035. That is, the interest rate is Rs 70,035. Senior citizens will get a total of Rs 2,83,652 on a 5-year FD of Rs 2 lakh, of which Rs 83,652 is fixed interest. For super senior citizens, this return goes up to Rs 2,85,049, of which Rs 85,049 is interest.

These SBI FD schemes are proven to be beneficial for investors of all ages. Whether you are a general citizen, senior citizen or super senior citizen, this bank scheme can be a good option for safe and assured returns.