SBI State Bank of India is considered to be the largest government bank in the country, due to which people open their bank account the most in SBI, and even if FD is to be done, SBI is considered to be the most secure. At the same time, SBI also gives an interest of about 6.2 percent on its FD deposits, which is considered to be a very good interest rate at this time. At the same time opening a new FD account is also very easy, you can directly go to your bank branch and open a new FD account online.
SBI FD Account Types:
1) SBI Term Deposit FD :
2) SBI Re Investment FD Scheme :
3) SBI Tax Saving FD :
4) SBI Recurring Deposit Scheme :
SBI FD Investment:
SBI FD account opening process online:
SBI FD Account Types:
Before opening a new FD account in SBI, you need to know about the different FD options that will help you choose the right FD investment option as per your requirement.
1) SBI Term Deposit FD :
- SBI Term Deposit FD is a fixed deposit option, you can invest in FD for a fixed period of time through this option
- This is the most popular and basic FD investment option.
- In this option, you have to invest a specified amount and choose the time of investment.
- After the FD is launched, you get a guaranteed return as per the fixed interest rate.
- You can take the option of taking the interest rate on FD every month, 3 months, 6 months or annually.
2) SBI Re Investment FD Scheme :
- SBI’s Disinvestment FD scheme is one such option in which you can reinvest the interest earned on your FD.
- At the time of maturity of your FD, you can reinvest your total amount plus interest for the next period.
3) SBI Tax Saving FD :
- There are many people who are employed and doing business who sometimes invest to avoid more tax than return.
- In SBI Tax Saving FD, you have to keep a fixed amount for 5 years.
- The interest rate on this FD is the same as that of a normal FD, however, in this option, the amount can be withdrawn only at the time of maturity.
- By investing in this FD, the tax payer gets tax benefits as per his tax slab.
4) SBI Recurring Deposit Scheme :
- Recurring deposit scheme is very popular among all FD investment plans.
- Because in this, the FD holder has to deposit a fixed amount every month in his FD recurring account.
- The minimum investment amount in this scheme is Rs 100 every month and you can invest in it from 12 months to 120 months.
SBI FD Investment:
- In SBI FD scheme, it is mandatory for you to invest at least 1 thousand, while there is no maximum investment limit.
- The biggest thing in SBI FD is that the interest rate of FD increases according to your investment amount and investment time.
- SBI changes the interest rate of its FD scheme every month. Gives option to take quarterly, half yearly.
- You can invest in SBI FD for 7 days to 10 years.
- To avoid tax, after FD investment, it is mandatory for you to submit Form 15G and 15H annually, otherwise TDS can be deducted.
- Most importantly, in this scheme for senior citizens, more interest is given than normal.
SBI FD account opening process online: - For SBI FD account to be online, you must have a bank account with SBI and have net banking enabled.
- First of all, you have to open the SBI Net Banking website and log in through Net Banking ID and Password.
- After this you will get the option of Fixed Deposit on the dashboard, you have to click on it.
- There will be 2 options Term Deposit TDR and Special Term Deposit STDR.
- After selecting the required option, you have to choose the bank account from which you want to make bank FD.
- After this, you have to choose the investment amount in the FD and at the same time choose the maturity date i.e. investment time.
- After this, you will be shown the summary of your FD account on which to proceed by clicking on the option of OK.
- With this, the amount required for your FD account will be deducted from your bank account and your bank FD account will be started.
- You can download complete details of your FD account in PDF form
