SBI FDs: Do you know that SBI offers 1.5% more interest on all types of FDs to its special category of customers. That is, if the general customer is paying 6.1 percent interest annually on FD of 5 years, then the customers of this category will get 7.1 percent annually.
SBI FDs: Along with expensive loans, all banks are also increasing interest on deposits. State Bank of India (SBI) has also increased interest rates on FDs in recent months. If you too are looking for a risk-free fixed income option amid the ongoing ups and downs in the market, then there is a better option in bank FDs. In SBI’s FD, the customer can make a lump sum deposit in different tenures of 1-10 years. But, do you know that SBI offers 1.5% more interest on all types of FDs to its special category of customers. That is, if the general customer is paying 6.1 percent interest annually on FD of 5 years, then the customers of this category will get 7.1 percent annually.
Who will get 1.5% more interest in SBI
According to SBI’s website, the bank offers 1% more interest than the existing FD rates to its employees and pensioners. All senior citizens above 60 years get 0.50 percent more interest. In such a situation, if SBI’s senior citizen is a pensioner, then along with 1 percent, he will get 0.50 percent more interest. Being 1% bank staff and 0.50% Indian senior citizens will be beneficial. In this way, a total of 1.50 percent interest will be available on FD.
SBI Wecare Deposit: For Senior Citizens
SBI is running SBI Wecare scheme in retail term deposit / fixed deposit for senior citizens. In this scheme, apart from 0.50 per cent, 0.30 per cent i.e. a total of 0.80 per cent more interest is being offered to all senior citizens on FDs with tenure of 5 years or more. The bank has extended this scheme till March 31, 2023.
SBI is offering interest ranging from 3% to 6.1% per annum to the general customer on maturity from 7 days to 10 years. These interest rates are applicable from October 22, 2022 to deposits of less than Rs 2 crore. Fixed deposits / term deposits of banks are considered safe. This is a good option for risk-averse investors.
