Reached a point in life when you thought that it was high time that you started earning some extra money? If yes is the answer, then you should check out this highly interesting SBI FD interest rate. It will allow you to earn money without ever having to lift your finger to do anything except, at the beginning, when you open a fixed deposit in your name. If you have money to invest, the State Bank of India has several fixed deposit schemes that will see you earn hefty amounts provided you are a disciplined and focused person who wants to fatten up his wealth.
Notably, SBI FD interest rate of 7% is available in a scheme that is 35 months long. Yes, in this tenure, you can earn over a lakh of rupees on your investment without any problems at all. In fact, most everybody should look at investing their money in fixed deposits as a separate way of earning money. This way, you will no longer be dependent just on your job to earn money. You can actually build a separate stream of income apart from your job. And even if you lose your job, this income stream will never come to an end.
Right, having said that, here is how this 7% SBI FD interest rate can give you loads of money. First of all, the assumption is that you have Rs 5 lakh that you can invest in an SBI FD. If you do that, then on maturity, after this 35-month period expires, you will get this massive sum in your account.
How much? SBI FD calculator shows that you will get a maturity value of Rs 612169. In effect, on your Rs 5 lakh, you have earned Rs 112169 as interest. Money for nothing, no?
Now, if you are looking to further boost your income this way, as soon as you get the maturity value back, you should find another high-paying SBI FD to invest in.
In a few years, you will have built up a huge corpus that will perhaps, rival the money you earn through your pay. It will help you even buy a big asset for yourself and your family.
Note: These maturity values are indicative. The actual interest rate will eb available on your SBI Bank FD receipt.
Make SBI FD interest rate of 7% give you over Rs 6 lakh on your Rs 5 lakh investment. Check SBI FD calculator. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
