SBI Special Scheme: Saving for the future becomes difficult and almost impossible for all of us amid rising inflation. However, even if we somehow save some money from our income, we like to invest it in a good scheme.
We like to invest in a place from where we can get good returns in the future and with such claims, many banks and financial companies offer different types of schemes to the people. If you are looking for a scheme with a higher interest rate, then you can know about the special scheme of State Bank of India.
SBI’s special scheme
India’s largest government bank, State Bank of India, offers a special scheme to its customers. In this special scheme, the benefit of interest rate is up to 7.90%. Actually, let’s talk about the best scheme in which senior citizens get the highest interest of 7.90%. Let us know in detail about the best scheme of State Bank of India.
SBI Sarvottam Scheme
State Bank of India offers two fixed deposit schemes namely Amrit Kalash and Sarvottam. Both the schemes are special in their own way. If you opt for the Sarvottam scheme of the bank, you will get the benefit of higher interest rate. In this scheme, investors cannot get the facility of withdrawing money before time i.e. before maturity.
There is a charge for withdrawing money before time
The best plan for senior citizens is a non-callable scheme. In such a situation, customers do not get the facility of premature withdrawal. If the investor withdraws the money before time, then he has to pay a charge.
SBI Sarvottam FD Scheme Benefits
The best scheme of State Bank of India is for just 1 or 2 years, through which you can get a large amount of funds in a short time. Depositing money with different periods gives the benefit of interest with different percentages. Investment in this scheme also gets the benefit of compound interest.
SBI Sarvottam Interest Rate
- In the best scheme, the general public gets 7.10 percent interest on 1 year tenure EFI.
- In the best scheme, senior citizens get 7.60 per cent interest on 1 year tenure fiat.
- In the best scheme, the general public gets 7.4 percent interest on investing with a period of 2 years.
- In the best scheme, senior citizens get 7.90 per cent interest on investing with a tenure of 2 years.
This way you will get the benefit of more interest
SBI gives the benefit of higher interest on bulk deposits. On bulk deposits of Rs 2 crore to Rs 5 crore, both general customers and senior citizens will get different interest. FDs of Rs 15 lakh to Rs 2 crore for 1 year will get 7.82 percent interest. Whereas, senior citizens will get the benefit of 8.14 percent. If bulk deposits are being made with a period of 2 years, then general customers will get the benefit of 7.77 percent interest and senior citizens will get the benefit of 7.61 percent interest.
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