SBI Latest FD Rates: If you are also planning to get FD, then this news is for you. SBI Sarvottam Term Deposit Scheme has been launched by the country’s largest public sector bank State Bank of India. Investors are being given an annual interest of 7.9 percent on this FD. This is a non-callable deposit. Let’s know about this new FD scheme…
How much can invest
SBI Sarvottam Term Deposit is a special FD scheme. To take advantage of this, the retail investor will have to invest at least Rs 15 lakh. At the same time, a maximum investment of less than two crore rupees can be made in it. In this, two options of 1 year and 2 years are given by the bank for the investment period. The special thing is that in SBI Best Term Deposit, investors are not given the option of renewable and on maturity the amount is credited to the customers’ accounts.
Explain that in this FD, additional interest rate is also being given to senior citizens, employees, senior citizens.
SBI Best Term Deposit Interest Rate
In this scheme, the bank is giving an interest rate of 30 basis points from the card rate for one year FD and 40 basis points for two years. In this way, if a general investor gets a one-year FD, then he is given an interest of 7.1 percent and senior citizens 7.55 percent. At the same time, 7.40 percent interest is being given to general investors and 7.90 percent to senior citizens on two-year FDs.
Interest rate on normal FD in SBI
In SBI, interest ranging from 3.00 percent to 7.00 percent is being given on normal FDs ranging from 7 days to 10 days. At the same time, interest ranging from 3.50 percent to 7.50 percent is being given to senior citizens.
What is a non-callable deposit?
A non-callable deposit is a deposit that cannot be withdrawn before maturity. If it is withdrawn before the completion of maturity, then you are charged a penalty.
