SBI Savings Scheme: The country’s largest public sector bank – SBI has reduced the interest rates of FDs of different tenures by up to 0.25 percent. The Reserve Bank of India (RBI) had cut the repo rate by 0.25 percent this month.
After which all the banks of the country started reducing the interest rates of loans as well as deposit rates. In this series, State Bank of India also reduced the interest given on its savings schemes. However, even after this reduction, SBI’s FD schemes are getting excellent interest. Today we will tell you about a scheme of SBI, in which a fixed interest of Rs 24,604 can be obtained by depositing only Rs 1 lakh.
SBI is offering interest ranging from 3.50 to 7.55 percent on FD
SBI has reduced the interest rates on FDs for general people from 3.50%-7.25% to 3.50%-7.05%. This government bank is now offering 4.00% to 7.55% interest on FDs to senior citizens, which was up to 7.75% earlier. State Bank of India is offering 6.90% interest to general citizens and 7.40% interest to senior citizens on FD schemes of 2 years to 3 years. Before the reduction in interest rates, general citizens were getting 7.00% interest on this scheme and senior citizens were getting 7.50% interest. That is, SBI has reduced the interest on this scheme by 0.10%.
If you deposit Rs 1 lakh in 3-year FD, you will get fixed interest of Rs 24,604
If you deposit Rs 1 lakh in a 3-year FD in SBI, then on maturity you will get a fixed interest of up to Rs 24,604. If you are a normal citizen, that is, your age is less than 60 years, then on depositing Rs 1 lakh, you will get a total of Rs 1,22,781, which includes a fixed interest of Rs 22,781. If you are a senior citizen, that is, your age is above 60 years, then on depositing Rs 1 lakh in this scheme, you will get a total of Rs 1,24,604, which includes a fixed interest of Rs 24,604.
Disclaimer: This article is written for informational purposes only. Consult your financial advisor before making any kind of investment or taking any financial risk. rightsofemployees will not be responsible for any kind of risk.
Related Articles:-
ICICI Bank cuts interest rates on FD and savings accounts, read full details
RBI issued special instructions regarding bank accounts and deposits, know the whole matter
Bank Holiday: Banks will remain open in these states despite Good Friday, know the reason
