SBI FD interest Rates Hike update: Investing in FD is often liked by people. The main reason for this is that along with keeping the money safe, you also get a good return. If you are also looking for a best FD scheme, then this FD scheme of SBI will make you rich. Let us tell you, this scheme was launched last year to give more benefits to the investors. Now with the increase in interest, depositors (High return FD scheme) will get more returns than regular FD rates. Let us know it in detail in the news below-
State Bank of India (SBI FD scheme) has increased the interest under one of its special FD schemes. The revised interest rate will benefit retail investors and investors investing in bulk (Fixed deposit interest rates). After the increase in interest, this scheme is offering higher interest to investors on shorter tenure. The revision in the interest rate of SBI’s Special FD (e) is effective from May 15, 2024.
According to the website of the largest public sector bank, this scheme is SBI Sarvottam Term Deposit (SBI Sarvottam Term Deposit kya hai), which was launched last year. This scheme was introduced to give more benefits to investors. Now with the increase in interest, depositors will get more returns than regular FD (fixed deposit) rates.
How much interest has been increased?
State Bank of India has increased the deposit interest by 75 bps under the Sarvottam FD scheme. Now under the SBI Sarvottam FD scheme, the bank is offering 7.4 percent interest for a tenure of two years (SBI interest rates Hike). At the same time, the interest of Sarvottam FD for one year tenure has become 7.10 percent.
How much profit will senior citizens get?
Senior citizens have been given 50 basis points more interest (Fixed Deposit Hike) under the best fixed deposit scheme as compared to general investors. In such a situation, senior citizens will get 7.9 percent interest (FD interest Hike update) on a tenure of 2 years (730 days) under this scheme. At the same time, senior citizens will be given 7.6 percent interest for a tenure of one year.
How much interest is there for bulk investors in the scheme
If you invest Rs 2 crore or more in this scheme, then under this FD scheme, common citizens (SBI latest FD interest rates) will get 7.30 percent interest for one year tenure and 7.40 percent interest for 2 year tenure. Senior (High interest FD) citizens will get 7.80 percent interest for 1 year tenure and 7.90 percent interest for 2 year tenure.
