SBI Fixed Deposit: State Bank of India (SBI), the country’s largest public sector bank, is offering attractive interest rates on Fixed Deposits (FDs) to its customers. SBI’s FD rates currently range from 3.05 percent to 7.05 percent. Recently, the Reserve Bank of India (RBI), the country’s central bank, cut the repo rate, after which all banks revised their FD interest rates. Despite this, SBI is still offering attractive returns to its customers. If you invest in SBI’s FD scheme, you will get excellent returns without any risk.

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SBI FDs from 7 days to 10 years

The tenure of an SBI FD account can range from 7 days to 10 years. In addition, there is also the “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 a 5-year FD, the interest rate for general citizens is 6.05 percent, for senior citizens it is 7.05 percent, and for super senior citizens above 80 years of age, a bumper return of 7.15 percent is offered.

How much return will you get on a deposit of ₹2 lakh?

If a general citizen deposits ₹2 lakh in a 5-year SBI FD, they will receive a total of ₹2,70,035 at maturity. This includes ₹70,035 in interest. Similarly, senior citizens will receive a total of ₹2,83,652 on a 5-year FD of ₹2 lakh, which includes a fixed interest of ₹83,652. For super senior citizens, this return goes up to ₹2,85,049, including ₹85,049 in interest.

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