SBI Sarvottam FD: State Bank of India (SBI), the country’s largest public sector bank, has launched many schemes keeping in mind the needs of the customers. SBI Bank is running the best scheme keeping senior citizens in mind. Many banks are offering 9 percent interest on FD to senior citizens.
SBI Sarvottam : State Bank of India (SBI), the country’s largest public sector bank, is giving the best offers to the customers. The bank takes special care of its senior citizen customers and is also running many schemes for them. SBI Bank is running the best scheme keeping senior citizens in mind. SBI is offering interest rate of 7.90 percent in Sarvottam scheme.
SBI best scheme
The best scheme of SBI is offering higher interest than the savings schemes of PPF, NSC and Post Office. The biggest advantage of this scheme of SBI is that it is only one year and 2 year scheme. That means, you can raise a big fund in a short time. In SBI Sarvottam scheme, customers are getting 7.4 percent interest on 2 year deposit 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 interest and senior citizens are getting 7.60 percent interest on one year investment.
Get the benefit of compound interest
The annual yield on the best 1 year deposit of Rs 15 lakh to above Rs 2 crore for senior citizens is 7.82 per cent. Whereas, the yield for two-year deposits is 8.14 percent. On bulk deposits of Rs 2 crore to Rs 5 crore, SBI is offering 7.77 per cent interest for 1 year and 7.61 per cent for 2 years to senior citizens. Compound interest is available in this scheme.
These are the benefits of the scheme
In SBI Sarvottam scheme, the customer can invest 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. He can invest in this scheme of SBI. There is also an option to invest more than Rs 2 crore but the interest is less at 0.05 percent. However, there is no information on the website as to when one can invest money in this scheme.
Cannot withdraw money before maturity
You cannot withdraw money prematurely in SBI Sarvottam scheme. These are non-callable schemes in which money cannot be withdrawn prematurely. If you withdraw money before time, you will have to pay a charge.
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