While many investors are exploring mutual funds and the stock market, a large number of people still prefer the safety of bank FDs.
State Bank of India (SBI), the country’s largest public sector bank, is offering attractive interest rates on its FD schemes, making it a popular choice for conservative investors.
SBI FDs can be opened for tenures ranging from 7 days to 10 years, with interest rates between 3.05% and 7.15% depending on the tenure and the investor’s age.
Let’s see what you can earn by depositing ₹4,00,000 in a 5-year (60-month) FD.
Attractive Rates for Long-Term Deposits
For long-term FDs of 60 months, SBI offers some of the highest interest rates:
General Citizens: Up to 6.05%
Senior Citizens: Up to 7.05%
Very Senior Citizens (80+): Up to 7.15%
Additionally, the Amrit Varshi Special FD scheme offers higher rates for shorter tenures (444 days), with general citizens earning 6.45%, senior citizens 6.95%, and very senior citizens 7.05%.
How Much Can You Earn on ₹4 Lakh?
Here’s what your 5-year FD maturity could look like if you deposit ₹4,00,000 in SBI:
General Citizens: Total ₹5,40,071, including interest of ₹1,40,071
Senior Citizens: Total ₹5,67,303, including interest of ₹1,67,303
Very Senior Citizens: Total ₹5,70,097, including interest of ₹1,70,097
This shows how choosing the right FD scheme and tenure can significantly increase your returns, especially for senior and very senior citizens.
