Enjoy Attractive Interest Rates on SBI New Fixed Deposit Scheme
SBI introduces a new Fixed Deposit scheme offering higher interest rates for senior citizens, with investments starting as low as ₹1000 and flexible tenure options ranging from 7 days to 10 years.
If you’re looking to invest in a Fixed Deposit (FD), the State Bank of India (SBI) has launched a new scheme that could be just what you need. With an investment as low as ₹1000, you can take advantage of competitive interest rates. Let’s explore the details of this new offering and the benefits it provides.
SBI Patrons Fixed Deposit Scheme: Specially Designed for Senior Citizens
The SBI Patrons Fixed Deposit Scheme has been specifically designed for senior citizens, especially those above the age of 80. This new scheme offers an additional 0.10% interest rate over the existing FD rates, making it highly beneficial for super senior citizens. Depending on the tenure, the interest rates for this scheme range from 4.10% to 7.60%, ensuring that older individuals receive a higher return on their investments.
Minimum and Maximum Investment
This scheme is accessible with a minimum investment of just ₹1000, making it affordable for many to participate. The maximum deposit allowed is ₹3 crore, giving investors the flexibility to invest larger sums if desired. This FD scheme can be opened under an individual’s name or as a joint account, with the stipulation that the primary account holder must be at least 80 years old if opting for a joint account.
Check Your Monthly EMI if You Take a ₹2 Lakh Loan from SBI
Flexible Investment Tenure
One of the key features of the SBI Patrons Fixed Deposit Scheme is its flexibility. Investors can choose a tenure ranging from as short as 7 days to as long as 10 years. Whether you’re looking for short-term investment options or prefer long-term stability, this scheme has you covered.
Other Special SBI FD Schemes Offering Higher Interest Rates
Apart from the SBI Patrons FD, there are other FD schemes that offer higher interest rates, including:
- SBI V-Care Deposit Scheme: Offers 7.6% interest for a 1-year FD and 7.9% interest for a 2-year FD.
- SBI Amrit Vrishti FD Scheme: Provides a 7.75% interest rate for a 444-day FD.
- SBI Amrit Kalash FD Scheme: Offers 7.60% interest on a 400-day FD.
With such attractive options, SBI continues to cater to various investor needs, from senior citizens to those looking for higher returns in a shorter period.
In conclusion, whether you are a senior citizen or someone looking for flexible investment options, SBI’s new FD schemes provide lucrative benefits, making it easier for you to grow your savings while securing a stable future.
