Image Source : PTI/INDIA TV Fixed deposits offer a risk-free return.
SBI FD Scheme: The State Bank of India (SBI) is India’s largest public sector bank. It offers several saving schemes to its customers – with one of the most important ones being a fixed deposit scheme. The fixed deposit scheme is considered to be the favourite of people who are looking for a risk-free return.
Moreover, some FDs offer premature withdrawal facilities which let customers close it even before the maturity date. If you are planning to invest in a fixed deposit, here we have tried to provide a general idea about your return on Rs 5 lakh and Rs 10 lakh FD for 5 years.
SBI 5-year FD interest rate
State Bank of India (SBI) provides a 6.50 per cent interest rate to the general public.
SBI 5-year FD Return on Rs 5 lakh investment
If a person deposits Rs 5 lakh in the FD scheme of this public sector bank, he can get a return of around Rs 6,90,209 lakh on maturity. The interest value on the amount deposited could be Rs 1,90,209.
SBI 5-year FD Return on Rs 10 lakh investment
If one deposits Rs 10 lakh in the fixed deposit scheme of SBI, the person can get a return of around Rs 13,80,419 lakh on maturity. The interest value on Rs 10 lakh deposit could be Rs 3,80,419.
SBI 5-year FD interest rate for senior citizens
SBI, India’s biggest public sector bank, offers a 7.50 per cent interest rate on fixed deposits made by senior citizens.
SBI 5-year FD Return on Rs 5 lakh investment by senior citizen
As senior citizens get an interest rate of 7.50 per cent, investing Rs 5 lakh in the fixed deposit scheme of the bank could offer Rs 7,24,974 lakh on maturity. The interest value on Rs 5 lakh deposit could be Rs 2,24,974.
SBI 5-year FD Return on Rs 10 lakh investment by senior citizen
If a senior citizen deposits Rs 10 lakh in the fixed deposit scheme of SBI, the person can get a return of around Rs 14,49,948 lakh on maturity. The interest value on Rs 10 lakh deposit could be Rs 4,49,948.
