: There is great news for those who have an account in State Bank of India. It is known that SBI customers will get a big benefit this time till March 31. Already, the bank has informed that customers can now get a benefit of Rs 40,088. In this case, how to get this benefit if you are an SBI customer is presented in the present report. Banks have already hiked interest rates on FDs.
Available till 31st March: Basically, SBI is offering an interest rate of 7.1 percent for 400 days FD. In addition, there has been an increase of 25 basis points for amounts below Rs 2 crore. You can avail it till March 31.
40,088 will be additional: In this context, let us inform that the State Bank of India (SBI) has increased the interest rate of its special scheme. In such a situation if you deposit Rs 5 lakh, you will get Rs 5,40,888 after maturity. Note that there you will get Rs 40,888 as interest. This will be in the form of your fixed income. You can avail this facility through any branch of State Bank.
How long this benefit will be available: You can avail this scheme of State Bank of India till March 31. However, if you have not yet invested in this scheme, you can avail the benefits by investing in this scheme before the scheduled date.
How much profit will be made in 1 year: Also, if we look at deposits below Rs 2 crore, the bank has increased it by 25 basis points. Meanwhile, SBI’s first FD with 1-year maturity will fetch 6.75 percent interest. However, now this time there has been an increase of 0.05 percent. As a result it has reached 6.80 percent. Meanwhile, the 2-year FD initially fetched 6.75 per cent interest, but now it has increased to 7 per cent.
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What will be the profit in 3 and 5 years: Also, FD with maturity of 3 years will get 6.50 percent interest instead of 6.25 percent. Also, FDs with 5-year maturity will get 6.50 percent interest instead of 6.25 percent. In this context, let us inform that this new rate of the bank has come into effect from February 15.