Have money in the bank that you have not deployed anywhere? It is simply lying idle? Just as you should never just sit around doing nothing, the same principle should be applied to your money. In fact, you should make your money sweat for you all the time. And now, the opportunity is very much there. SBI FD interest rate as high as 7.6% is being offered and it is a definite money-spinner that you should milk for more money. This will be courtesy the State Bank of India Amrit Kalash scheme. Let the SBI FD calculator show you the way.
Let us start with the supposition that you want to invest Rs 400000 in an SBI FD offering a high 7.6% interest rate. First of all, you should know whether you are eligible. Only those SBI account holders are eligible who are senior citizens. This SBI FD is not available to the rest of the general public.
So, if you are over 60 years of age, you can easily scoot over to your nearest branch to open an SBI FD. You can do it online too, if you prefer not to leave the comfort of your home.
SBI FD interest rate breakup
Principal amount invested: Rs 400000
SBI FD interest rate: 7.6%
SBI FD tenure: 400 days
When we let the SBI FD calculator do the number crunching it immediately throws up a delightful number for the investor in the form of the maturity value.
This SBI FD maturity value, after 400 days, is Rs 434,402. In fact, just by opening an SBI FD, the investor earned a huge sum of Rs 34,402 without taking any risk at all.
Notably, this SBI FD interest rate is available under the 400-day Amrit Kalash scheme. Notably, in its statement, SBI says, “Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.”
In case you are interested, you will have to hurry as this SBI FD is available till September 30.
Do note that these are indicative values as per the SBI.
SBI FD interest rate of 7.6% is available via the Amrit Kalash scheme. You can earn over Rs 34000 in no time at all. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
