State Bank of India has launched SBI Sarvottam Fixed Deposit Scheme for the customers. SBI offers investors the facility to deposit more than Rs 15 lakh on the tenure of 2 years in the best FD. According to the SBI website, this deposit scheme offers the benefit of the highest interest rate without the facility of premature withdrawal.
Over 15 lakhs invested in SBI Sarvottam FD
SBI has launched SBI Sarvottam Fixed Deposit scheme for retail and wholesale investors and its deposit tenure is only 1 year and 2 years. The minimum amount of investment under this scheme is Rs 15 lakh in the retail sector. At the same time, renewal facility is not provided in SBI Sarvottam FD and after maturity the amount will be deposited directly into the investor’s account.
Higher rate of interest to these investors including senior citizens
Senior citizens, employees, employees for investment in SBI Best FD will be able to get additional rate of interest to senior citizens as compared to general public.
These people will not be able to invest in SBI Sarvottam FD
There is a change in eligibility for investors in SBI Sarvottam FD. Minors and NRI customers are not eligible to invest in this scheme. Along with this, NRI senior citizens, NRI employees are also not eligible for investment.
SBI best FD interest rate 7.90 percent
Under SBI best FD, the bank offers 30 bps on the card rate for a tenure of 1 year and 40 bps on the card rate for a tenure of 2 years. According to the bank, on investing an amount of more than Rs 15 lakh and less than Rs 2 crore for 1 year, ordinary citizens will get 7.10 percent interest rate, while senior citizens will be given an interest rate of 7.55 percent. At the same time, for a period of 2 years, 7.40 percent interest will be given to general customers and 7.90 percent interest to senior citizens.
Maximum 7.5 percent interest on SBI’s regular FD.
Looking at the interest rates on other regular FDs of SBI, for a period ranging from 7 days to 10 years, it gives an interest rate of 3 percent to 7 percent to general citizens and 3.5 percent to senior citizens. Gives interest rate between percent to 7.5 percent. These interest rates are applicable from 15 February 2023.
