SBI Sarvottam FD: The country’s largest public sector bank, State Bank of India (SBI), is running two schemes for its customers, namely Amrit Kalash and Sarvottam. Both are Fixed Deposit schemes. SBI Bank is running the best scheme for senior citizens.
SBI Sarvottam FD: The country’s largest public sector bank, State Bank of India (SBI), is running two schemes for its customers, namely Amrit Kalash and Sarvottam. Both are Fixed Deposit schemes. SBI Bank is running the best scheme for senior citizens. SBI is offering a higher interest rate of 7.90% in the Sarvottam scheme. However, there are many rules in this which investors have to fulfill. You cannot withdraw money prematurely in the SBI Sarvottam scheme. These are non-callable schemes in which you cannot withdraw money prematurely. If you withdraw money prematurely, you will have to pay a charge.
Interest on SBI Sarvottam FD scheme
SBI’s Sarvottam scheme is offering higher interest than PPF, NSC and Post Office Savings Schemes. The biggest advantage of this scheme of SBI is that it is only a one year and two year scheme. That is, you can create a big fund in a short time. In SBI Sarvottam scheme, customers are getting 7.4 percent interest on 2-year deposits i.e. FD. This interest rate is for the general public. At the same time, senior citizens are getting 7.90 percent interest on this scheme. At the same time, the general public is getting 7.10 percent and senior citizens are getting 7.60 percent interest on one year investment.
Customers will get the benefit of compound interest
For senior citizens, the annual yield on 1-year Sarvottam deposit of more than Rs 15 lakh to Rs 2 crore is 7.82 percent. Whereas, the yield for two-year deposit is 8.14 percent. SBI is offering senior citizens 7.77 percent interest for 1 year and 7.61 percent interest for 2 years on bulk deposits of Rs 2 crore to Rs 5 crore. Compound interest is available in this scheme.
You can invest this much money
In SBI Sarvottam scheme, customers can invest from a minimum of Rs 15 lakh to Rs 2 crore. This scheme is best for those who have retired and have money from PF fund. They can invest in this scheme of SBI. There is also an option to invest more than Rs 2 crore in it but the interest is 0.05 percent less. However, information about how long money can be invested in this scheme is not available on the website.
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