SBI FD Scheme: If you’re looking for a low-risk investment option that gives good returns in a short period, Fixed Deposits (FDs) can be an excellent choice. While there are many investment options in the market, FDs remain one of the most popular choices when it comes to minimizing risks and earning decent returns. Banks offer FD schemes with varying interest rates, and these rates are often revised periodically. Currently, State Bank of India (SBI) is offering attractive interest rates on its FD schemes.
Today, we’re going to discuss an SBI FD scheme that allows you to invest ₹2 lakh and earn a profit of ₹32,044 in interest.
SBI Offering 7.55% Interest on Fixed Deposits
SBI offers customers various FD schemes with interest rates ranging from 3.50% to 7.55%, depending on the duration. The 444-day special FD scheme offers 7.05% interest for general customers and 7.55% for senior citizens. This is a great option for those looking to invest for a shorter duration (SBI FD Scheme) with competitive returns.
For the 2-year FD scheme, SBI offers 7.00% interest for general customers, and 7.50% interest for senior citizens. Following the RBI’s repo rate cut, SBI reduced its FD interest rates slightly, but the rates are still attractive compared to other investment options in the market.
Earn ₹32,000 Profit on ₹2 Lakh Investment
Now, let’s see how much profit you can make by investing ₹2 lakh in an SBI FD.
If you invest ₹2 lakh in SBI’s 2-year FD, you can earn a profit of ₹32,044 as interest. For general customers (SBI FD Scheme) under the age of 60, this means that at maturity, you will receive a total amount of ₹2,29,776. This amount includes the ₹2 lakh you invested, plus the ₹29,776 you earn as interest.
For senior citizens (aged 60 or above), the situation is even better. If a senior citizen invests ₹2 lakh in the 2-year FD, they will receive ₹2,32,044 at maturity, which includes the ₹32,044 earned as interest. This makes the scheme even more attractive for older customers who are looking to maximize their savings.
Benefits of SBI FD for Senior Citizens
SBI’s FD scheme offers better returns for senior citizens, making it a great investment option for those who are looking for stable and secure returns after retirement. Senior citizens (SBI FD Scheme) are eligible for higher interest rates, which makes their savings grow faster. The 7.50% to 7.55% interest on FD is a good return for senior citizens who may be relying on their savings to provide them with additional income in their later years.
Additionally, SBI’s FD schemes are covered under DICGC insurance, providing up to ₹5 lakh protection for depositors. This ensures the safety of your money, which is especially important for those who are looking to invest in a low-risk manner.
Conclusion | SBI FD Scheme
If you want to make the most of your savings with minimal (SBI FD Scheme) risk and good returns, SBI’s FD schemes can be a great choice. With attractive interest rates, especially for senior citizens, this scheme offers a safe and reliable way to grow your money. By investing ₹2 lakh in an SBI 2-year FD, you can earn up to ₹32,044 in interest, which is a fantastic return for anyone looking to invest in a low-risk option. Be sure to choose the FD scheme that fits your needs and make the most of your investment!
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