The State Bank of India (SBI) has millions of investors. If you are one and looking to invest in a SBI FD, then know how you can earn over Rs 85000 through this tool. The best part about fixed deposits is that they can generate good profit for you without actually putting any of it at risk. It is recommended for all those people who do not want to actively manage their money. In FDs, you just start one easily online and forget about it till maturity. In fact, even if you forget about it, the bank’s auto renewal facility will put your money back to work.
Before we get into how to earn over Rs 85000 through a SBI fixed deposit, know some of the reasons why you should invest in a bank fixed deposit.
1. FDs are Safe, Secure and Guaranteed: Your money, both the principal and interest, are protected by the bank’s guarantee. And this especially applies to government owned banks.
2. Future planning: At the time of investment itself you will know how much money you will get. This fixed return on your investment makes it easier for the investor to plan and forecast your future financial gains and how best to put it to use then. It will help manage your personal budgets and planning for future expenses.
3. FD Can be started with small amounts too: This means the benefits of good interest rates can be derived by everyone, even those with low savings potential.
3. FD beats SB: Fixed deposits can make more money for an investor than a savings bank account. Money left in a SB account is always losing value and not increasing in value.
All of these are reasons why fixed deposits have become some of the most popular savings tools.
And now, SBI FD interest rate that is available to account holders can easily generate a big amount of money. Let us say that an account holder has Rs 400000 to invest in an FD. The tenure of the SBI FD is 3 years. The interest offered in this scheme is 6.5%.
The SBI FD calculator shows that the account holder will get a sum of Rs 485363 in his bank acccount on maturity. In effect, for lending Rs 4 lakh to SBI, the FD holder has received Rs 85363 as interest.
Note: The amount mentioned here are estimations and the actual sum will be mentioned in the FD receipt.
It is easy to earn high amounts as interest from bank fixed deposits. Here we take a look at the SBI FD scheme that offers 6.5% interest. By investing Rs 4 lakh, investor can make over Rs 85000. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
