SBI FD Interest Rates 2024: State Bank of India has revised SBI FD Interest Rates for their customers on 27 December 2023 before the end of the Year. It is very beneficial for those who are existing availing the benefits of FD in SBI for multiple schemes however new investors will also get the same benefit. Check the latest SBI FD Interest Rates in this article so you can apply for the SBI scheme according to its benefits and features.
SBI is one of the major banks in India that manages the banking facilities for their customers and provides multiple deposit schemes including fixed deposits, term deposits, etc. The SBI bank has revised interest rates for the fixed deposit scheme and hiked existing interest rates. So all the depositors in the SBI who are participating in every scheme from a minimum of 7 days to a maximum of 10 years will get upgraded SBI FD Interest Rates Hiked by the bank in the upcoming days.
SBI FD Interest Rates 2024 Hiked
FD scheme starting in SBI from 7 days: The SBI bank has revised interest rates for FD only for those customers who have applied for fixed deposits under two crore rupees. So if you do not deposit more than 2 crore then you will get higher interest rates from the bank over your deposit amount.
Any individual in SBI can apply for the FD scheme from 7 days Minimum. Individuals can submit the amount from 7 days to 45 days, 46 days to 179 days, 180 days to 210 days, and a Maximum of 10 years FD can be purchased in SBI Bank where you will get the whole amount after completing the maturity with earned interest rates on your deposit amount.
SBI Hikes Interest Rates of Fixed Deposits, New Rates Here
If you apply for the SBI FD scheme for 7 to 46 days then you will get 3.5% interest rates however it was 3% before the increment in the interest rates. Senior citizens will get 4% interest rates on their deposit of maximum 46 days. Customers are getting 4.5% interest on 46 to 179 days FD scheme But now they will get 4.75% to 5.25% Interest rates according to the new formula. 5.75% interest rates will be provided on 180 days, 210 days FD scheme to normal citizens, and 6.25% will be provided to senior citizens.
FD scheme for up to 1 year will provide 6% to 6.5% interest on their deposit amount. Interest rates on the SBI FD scheme of 1 year to 3 years will remain the same as previous interest rates so this customer will get 6.8% to 7.5% interest according to their plan. The maximum interest rates in the FD scheme of SBI are provided for a deposit of 2 to 3 years. A 0.25% increment is provided for the FD of 3 to 5 years. Individuals who purchase every scheme for 5 to 10 years will get 6.5% for general citizens and 7.5% for senior citizens it was same in the previous interest rates also.
SBI FD Scheme 2024 | State Bank of India Fixed Deposit 2024
FD scheme is an investment Scheme which is provided by the bank to their customers. You have to deposit a fixed amount at one time at the time of purchasing by scheme and after that, you cannot withdraw the amount. (however, if you want you can withdraw your policy where the bank will reduce additional charges and other taxes from your amount).
Once you submit the amount to the bank, the bank will provide your interest rates on your amount according to the terms and conditions and once you complete the majority of the scheme you will not only get your deposit amount but will also get additional interest rates which are provided over your deposit amount. So Bank have different FD schemes such as Amrit Kalash FD scheme, SBI we care deposit scheme, etc For their customers so you can select anyone according to your needs and category.