SBI Superhit Scheme: The superhit fixed deposit scheme of the country’s largest bank SBI provides a lot of tension free earning. In this scheme.
you can deposit money for different maturities ranging from 7 days to 10 years. In these you get a good amount of interest along with the principal on maturity. Know how much SBI will earn in 1,2,3 and 5 years on an FD of Rs 10 lakh.
This much interest will be available on an FD of Rs 10 lakh in 1 year – The interest rate on SBI’s 1-year maturity fixed deposit is 6.80 percent. If you have deposited Rs 10 lakh for 1 year.
then you will get Rs 10,69,753 on maturity. That is you will get a fixed income of Rs 69,753 from interest.
SBI has fixed 7 percent interest rate on deposits with 2 years maturity. If you have deposited Rs 10 lakh for 2 years. then you will get Rs 11,48,881! In this way. you will get a fixed income of Rs 1,48,881 from interest in FD.
SBI Superhit Scheme
The interest rate on SBI’s 3-year maturity FD deposit is 6.75 percent. If you have deposited Rs 10 lakh for 3 years. then your maturity amount will be Rs 12,22,393. In this way you will get a fixed income of Rs 2,22,393 from interest.
How much interest will you get in 5 years in Fixed Deposit
The interest rate on SBI’s 5-year maturity deposit in Fixed Deposit is 6.50 percent! If you have deposited Rs 10 lakh for 5 years. then on maturity you will have a fixed income of Rs 13,80,419! In this way you will get interest of Rs 3,80,419.
SBI Senior Citizen FD Interest Rate 2024
SBI usually gives half percent (0.50%) more interest to senior citizens than regular customers on different maturities. At the same time,under the ‘WeCare Deposit’ FD scheme. senior citizens get half a percent more interest on deposits of 5 years or more. That is,the total benefit will be 1 percent.
In this way,if a senior citizen deposits Rs 10 lakh in this Fixed Deposit scheme for 5 years. then the maturity amount will be Rs 14,49,948. The benefit of ‘SBI WeCare’ can be availed till 31 March 2024.
Fixed Deposit offers tax saving benefits
Let us tell you,on a 5-year FD,you can claim a rebate of up to Rs 1.5 lakh under Income Tax Section 80C.All customers get the benefit of 5-year tax saver FD.Also,know that the interest received on Fixed Deposit is taxable.
