Best fixed deposit schemes from SBI

Most people do not venture into FD because of the fear that when they have a sudden need for money, they may not be able to access it due to the rigidness of the scheme. Many banks now consider these aspects and design fixed deposit product that addresses all your concerns. When banking is moving to highly customer friendly ground, never let your money just sit in a savings account that offers very less interest. Let’s see here how the Fixed Deposit schemes offered by State Bank of India can help you in achieving your financial goals.

About SBI

State Bank of India is the largest financial institution in India. It is a government owned corporation and a multinational financial institution, which has become synonymous with the word ‘trust’. For any Indian, SBI would be a name that comes first to mind whenever he thinks of investment options.

How Fixed Deposit Schemes of SBI helps you?

There are several types of sbi Fixed Depoist Each one has its own features in terms of interest rates and returns.

F o r P a r e n t s

I f y o u w a n t t o s a v e f o r t h e f u t u r e o f y o u r c h i l d r e n , a f i x e d d e p o s i t c a n b e t h e i d e a l k i n d o f i n v e s t m e n t . S B I o f f e r s j u n i o r s a v i n g s p l a n t h a t a r e b u i l t t o s u i t e x a c t l y t h e n e e d s o f p a r e n t s . Y o u w i l l n o t h a v e t o w o r r y a b o u t e d u c a t i o n f u n d s o n c e y o u r c h i l d g r o w s u p . Y o u c a n k e e p a d d i n g t o t h e d e p o s i t e d a m o u n t t h r o u g h r o l l o v e r f a c i l i t i e s . A s y o u k e e p a d d i n g t o t h e d e p o s i t a m o u n t t h e r a t e o f i n t e r e s t a l s o i n c r e a s e s c o n s i d e r a b l y . Y o u c a n f u r t h e r l i n k t h e i n t e r e s t e a r n e d f r o m t h e F D t o a s a v i n g s a c c o u n t . T h e i n t e r e s t e a r n i n g s c a n t a k e c a r e o f y o u r a d d i t i o n a l e x p e n d i t u r e o r b e c o m e a n o t h e r s a v i n g s o p t i o n f o r y o u r c h i l d .

For the Retired Community

Fixed Deposit is a great way to plan your retirement. If you plan smartly and put away a certain amount of money throughout your employment years it will come in handy during retirement. If you do not work for a company that gives pension, investing in Fixed Deposit is an ideal retirement plan. By the time you retire the money that you have saved as Fixed Deposit will earn enough interest to take care of your monthly expenditure. You can spend the rest of your retired life with peace of mind with the monthly interest gaining from your FD.

Middle aged Professionals

Professionals can take advantage of both short term and long term Fixed Deposit schemes offered by SBI. Investing in FD not only offers you higher returns, but helps you for your long term and short term financial goals like purchase of property, children’s education and marriage.

The best way to maximize the benefits of FD is to choose a longer tenure. Also one should allow the interest to be accumulated in their account, which is a sure shot way of increasing your savings systematically.

Tenure General Interest Rates (w.e.f. 18.02.2014)

Interest Rate for Senior Citizens (w.e.f. 18.02.2014)

7 days to 90 days 7.5 7.591 days to 179 days 7.5 7.5180 days to 210 days 7.0 7.0

211 days to less than 1 year 7.5 7.51 year to less than 2 years 9.0 9.252 years to less than 3 years 9.0 9.253 years to less than 5 years 8.75 9.0

5 years and up to 10 years 8.50 8.75

F i x e d D e p o s i t s c h e m e s o f f e r e d b y S B I

B a n k B a z a a r . c o m i s t h e b e s t p l a t f o r m t o u n d e r s t a n d t h e F D s c h e m e s o f f e r e d b y S B I a n d t h e v a r i o u s b e n e f i t s a s s o c i a t e d w i t h i t .

Tenure General Interest Rates (w.e.f. 18.02.2014)

Interest Rate for Senior Citizens (w.e.f. 18.02.2014)

7 days to 90 days 7.5 7.591 days to 179 days 7.5 7.5180 days to 210 days 7.0 7.0

211 days to less than 1 year 7.5 7.51 year to less than 2 years 9.0 9.252 years to less than 3 years 9.0 9.253 years to less than 5 years 8.75 9.0

5 years and up to 10 years 8.50 8.75

F i x e d D e p o s i t s c h e m e s o f f e r e d b y S B I

B a n k B a z a a r . c o m i s t h e b e s t p l a t f o r m t o u n d e r s t a n d t h e F D s c h e m e s o f f e r e d b y S B I a n d t h e v a r i o u s b e n e f i t s a s s o c i a t e d w i t h i t .