Fixed Deposit is an ideal investment instrument if you have financial objectives that you need to meet within a set amount of time. Here are the FDs rates offered by SBI right now.
New Delhi: Investment horizon, risk tolerance, and personal financial objectives all influence where one should put their hard-earned money. For cautious investors looking to preserve wealth, fixed deposits (FDs) are a great option because they provide security and consistent returns. A fixed-income instrument unaffected by erratic market fluctuations is the fixed deposit.
Read More: LIC Launches New Index Plus Insurance Policy: All You Need to Know
During the selected tenor, the interest rate that is in effect at the time of booking an FD stays the same. Estimating the returns at maturity is made simple by it.
It is an ideal investment instrument if you have financial objectives that you need to meet within a set amount of time. It’s among the safest investing choices out there right now.
Here are the interest rates you can get on fixed deposits with State Bank of India (SBI) if you’re depositing less than Rs 2 crore starting from December 27, 2023:
Read More: Atal Pension Yojana: Know about Aadhaar seeding and onboarding facility for APY – details here
For short-term deposits (7 days to 45 days), the interest rate is 3.5 percent for the general public and 4 percent for senior citizens.
For medium-term deposits (46 days to 179 days), the interest rate is 4.75 percent for the general public and 5.25 percent for senior citizens.
For slightly longer periods (180 days to 210 days), the interest rate is 5.75 percent for the general public and 6.25 percent for senior citizens.
If you’re looking to invest for around a year, the interest rate is 6 percent for the general public and 6.5 percent for senior citizens.
Read More: SOVEREIGN GOLD BONDS: Earn tax-free returns from SGBs
For 1 year to less than 2 years, the interest rate is 6.8 percent for the general public and 7.3 percent for senior citizens.
For 2 years to less than 3 years, the interest rate is 7 percent for the general public and 7.5 percent for senior citizens.
For 3 years to less than 5 years, the interest rate is 6.75 percent for the general public and 7.25 percent for senior citizens.
For longer-term deposits (5 years and up to 10 years), the interest rate is 6.5 percent for the general public and 7.5 percent for senior citizens.
There’s also a special scheme for 400 days called Amrit Kalash, where the interest rate is 7.1 percent for the general public and 7.6 percent for senior citizens.
