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The country's largest public sector bank, State Bank of India (SBI) is running a special scheme for retired senior citizens. SBI is giving them 7.90% interest in its SBI Sarvottam Scheme (SBI Sarvottam Scheme).

State Bank of India (SBI), the country's largest public sector bank, is running a special scheme for retired senior citizens. SBI is giving them 7.90% interest in its SBI Sarvottam Scheme (SBI Sarvottam Scheme). This is more than many schemes run by the government. Although it has some rules, it is a good scheme for senior citizens to earn high returns.

Better than these government schemes is SBI Sarvottam Scheme
SBI Sarvottam Scheme of SBI is offering higher interest than PPF, NSC and Post Office savings schemes. The biggest advantage of this scheme of SBI is that it is only one year and two year scheme. That is, you can raise a large fund in a short period of time.

In SBI Sarvotham scheme, customers are getting 7.4 percent interest on 2 year deposit i.e. FD. This interest rate is for common people. Along with this, senior citizens are getting 7.90 percent interest on this scheme. Along with this, common people are getting 7.10 percent interest and senior citizens are getting 7.60 percent interest on one year's investment.

Interest Benefit to Senior Citizens
SBI Best Scheme for Senior Citizens from Rs 15 Lakh to Rs 2 Crore The annual interest on 1 year deposit is 7.82 percent. Whereas, the interest for a two-year deposit is 8.14 percent. On bulk deposits of Rs 2 crore to Rs 5 crore, SBI is offering senior citizens an interest rate of 7.77 per cent for 1 year and 7.61 per cent for 2 years. Compound interest is available in this scheme.

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

In the SBI Sarvotham scheme, the customer can invest from a minimum of Rs 15 lakh to Rs 2 crore. This scheme is best for those who are retired and have money from PF fund. He can invest in this scheme of SBI. There is also an option to invest more than Rs 2 crore but the interest is lower at 0.05 per cent. However, there is no information on the website about when one can invest money in this scheme.

You cannot withdraw money from SBI Optimum scheme before maturity
You cannot withdraw money prematurely in SBI Optimum scheme. These are non-callable schemes in which money cannot be withdrawn prematurely. If you withdraw money prematurely, you will have to pay a charge.