Top News

Public sector giant State Bank of India (SBI) has recently hiked its Fixed Deposit (FD) interest rates. Rates increased by 25 to 75 basis points. It can be said that this will give relief to those who want to keep money in the bank. More returns than before.

Interest rates on 46 days to 179 days FDs have increased from 4.75 percent to 5.50 percent. The FD rate for the senior citizen category has increased from 5.25 percent to 6 percent. The interest rate for the general public on FDs from 180 days to 210 days increased by 25 basis points from 5.75 percent to 6.00 percent. Senior citizens who were availing 5.25 percent interest rate will now get 6.50 percent interest.

The new rate for the general public on FDs from 211 days to 1 year has gone up from 6 percent to 6.25 percent. Senior citizens will get an interest rate of 6.75 percent instead of 6.50 percent in the same category.

In each FD Rs. Now let's find out how much returns will come on an investment of Rs 1 lakh under the revised SBI FD interest rates. The revised interest rate on 46 days to 179 days FD for general citizens is 5.50 percent. At the maturity of 179 days, one pays Rs. 1 lakh on an investment of Rs. 2,715 will earn interest. That means the maturity amount is Rs. 1,02,715 will be.

FDs of 180 days to 210 days offer an interest rate of 6 percent. That means a Rs. 1 lakh investment on maturity of Rs. 3,485 gives interest. Thus the maturity amount is Rs. 1,03,485.

Looking at 211 days to less than 1 year FD. The revised interest rate in this scheme is 6.25 percent. In this scheme Rs. 1 lakh for an investment of Rs. 6,398 as interest. The maturity value of Rs. 1,06,398 will be.

The revised interest rate on 46 days to 179 days FD for senior citizens is 6.00 percent. At the maturity of 179 days, one pays their Rs. 1 lakh if ​​they withdraw an investment of Rs. 2,963 will earn interest. Maturity amount Rs. 1,02,963 will be.

The revised interest rate in this scheme is 6.50 percent on FDs from 211 days to less than 1 year. In the scheme Rs. 1 lakh for an investment of Rs. 6,641 as interest is paid, the maturity value is Rs. 1,06,641.