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SBI Sarvottam: The country’s largest government bank, State Bank of India (SBI) is running a special scheme for retired senior citizens. SBI Sarvottam scheme is offering 7.90 percent interest. This is more than many schemes run by the government. Although it has some rules, it is a useful scheme for senior citizens to get high returns.

SBI Sarvottam FD Yojana is the best among these government schemes

SBI Sarvottam scheme is giving more interest than PPF, NSC and post office savings schemes. The biggest advantage of this scheme of SBI is that it is a scheme for only one year and two years. That means you can create a big fund in less time. In SBI Sarvottam scheme, customers are getting 7.4 percent interest on 2-year deposits i.e. FD. This interest rate is for the general public. At the same time, senior citizens are getting 7.90 percent interest on this scheme. At the same time, the general public is getting 7.10 percent interest and senior citizens are getting 7.60 percent interest on one year investment.

Senior citizens will get the benefit of interest

For senior citizens, the annual yield on the best 1-year deposit of Rs 15 lakh to Rs 2 crore is 7.82 percent. Whereas, the yield on two-year deposits is 8.14 percent. SBI is giving 7.77 percent interest for 1 year and 7.61 percent for 2 years to senior citizens on bulk deposits of Rs 2 crore to Rs 5 crore. Compound interest is available in this scheme.

You can invest a minimum of Rs 15 lakh – this scheme is best for them

In SBI Sarvottam scheme, customers can invest from a minimum of Rs 15 lakh to Rs 2 crore. This scheme is best for those who have retired and have money from PF fund. They can invest in this scheme of SBI. There is also an option to invest more than Rs 2 crore in it but the interest is 0.05 percent less. However, there is no information on the website about how long you can invest money in this scheme.

You cannot withdraw money from SBI Sarvottam Plan before maturity

You cannot withdraw money prematurely from SBI Sarvottam Yojana. These are non-callable schemes, in which you cannot withdraw money prematurely. If you withdraw money prematurely, you will have to pay a charge.