SBI FD interest rate up to 7.9%: 5 State Bank of India special fixed deposits offering higher rates Here are details of each of these schemes
The State Bank of India (SBI) provides customers with a range of financial services and special deposit schemes. The bank offers a various special fixed deposit for regular citizens and senior citizens such as SBI Amrit Kalash, SBI Wecare, SBI Green Deposits, SBI Sarvottam. These special deposits vary depending on tenure, amount, and type of investor.Here is a list of special FDs offered by SBI.
SBI Amrit Kalash
SBI Amrit Kalash special FD offers investors a higher interest rate compared to regular SBI FDs. The last date to invest in Amrit Kalash is March 31, 2024. The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31-March-2024
General citizens interest rate: 7.10%Senior citizens interest rate: 7.6%Earn up to 7.6% on SBI Amrit Kalash special FD; check last date to invest, who is eligible
SBI WEcare
Only senior citizens are eligible to invest in SBIWeCare,which gives higher interest rates to senior citizens for terms ranging from 5 to 10 years. The last date to invest in SBI Wecare is March 31, 2024. The scheme is available on fresh deposits and renewal of maturing deposits. SBI offers 0.50% higher interest rates to senior citizens, interest rates on regular fixed deposits vary between 3.50% and 7.50% for tenures ranging from 7 days to 10 years. The bank offers 7.50% interest on SBI Wecare special FD.
Senior citizens interest rate: 7.5%SBI WeCare special FD for senior citizens with higher interest rate deadline: What is the FD rate?
SBI Green Rupee Term Deposit
Under the green deposit scheme, senior citizens can earn 7.15% on tenure of 1111 Days and 1777 Days. The bank offers 7.40% on 2222 Days tenure on retail deposits.
Regular citizens can earn 6.65% on tenure of 1111 Days and 1777 Days. The bank offers 6.40% on 2222 Days tenure on retail deposits.
The scheme is available through the branch network, and it will soon be made available through other digital channels such as YONO and Internet Banking Services (INB).
Also read: SBI launches green rupee fixed deposit (FD): Who can invest, interest rate, how to buy
SBI Sarvottam
For SBI Sarvottam term deposits resident individuals and non- individual customers Note that minors and NRI customers are not eligible.
SBI Sarvottam FD offers 7.9% interest rate; what is the minimum investment limit?
Under SBI Sarvottam term deposits, the bank offers an interest rate of 7.4 per cent for a tenure of two years. For a one-year tenure, the interest rate has been fixed at 7.10 per cent. Senior citizens will get an additional 50 basis points (bps) premium over the rate of interest provided to the general investors. They will earn an interest rate of 7.9 per cent for deposits maturing in two years. For a year, they will get an interest rate of 7.6 per cent in the bank. for retail customers, the minimum deposit amount will be Rs 15.01 lakh and the minimum amount can go up to Rs 2 crore under SBI Sarvottam term deposits. The bank has allowed bulk deposits under SBI Sarvottam term deposits. The deposits can be between Rs 2 crore and Rs 5 crore.
For general citizens on retail deposit (1Y): 7.10%For senior citizens on retail deposit (1Y): 7.90%
SBI Annuity Scheme
In order to facilitate the customer's one-time lump sum deposit and subsequent monthly annuity payments that include interest in addition to a portion of the principle amount. Rate of interest as applicable to term deposits for public and senior citizens. Payment of annuity on the anniversary date of the month following the month of deposit. There is no last date to invest in SBI Annuity Scheme.
Interest rate that applies to public and senior citizen term deposits.
This story originally appeared on: India Times - Author:Faqs of Insurances
