If you are searching for the safest and most reliable investment option with guaranteed returns, then Fixed Deposit (FD) schemes from the State Bank of India (SBI), the largest government bank of the country, would make for an attractive scheme that would earn you a fixed rate of interest over your savings.
On an investment of ₹2,00,000 in SBI FDs, you can gain fixed interest ranging from ₹29,776 to ₹32,044 according to age and duration. Let us now explore in detail this low-risk, high-security investment plan.
SBI FD Interest Rates: Important Points
- General Public: FDs earn interest ranging between 3.50 and 7.00% according to tenure.
- Senior Citizens (aged 60 years and above): They can get the benefit of earning interest at the rate of 4.00% to 7.50%, a good option for retired ones.
- Rewards at Max: The highest returns are available by way of the best FD rates, namely 7.00% for the general public and 7.50% for senior citizens for period deposits maturing in 2 to 3 years.
How Much Can You Earn with ₹2,00,000?
By investing ₹2,00,000 in SBI’s FD scheme, you can receive:
- ₹29,776 (for general citizens)
- ₹32,044 (for senior citizens)