SBI Bank Scheme | The country’s largest government-owned bank provides a wide range of facilities to its customers. Today we bring you State Bank of India (SBI online) Telling about a scheme, in which you will get Rs 55,000 as interest from the bank after investing Rs 5000. Interestingly, this is a State Bank scheme, so there is no risk of money involved. (SBI Login)
How much interest are you getting?
RD facility is provided by State Bank of India, wherein the customers get the benefit of good interest. General customers are availing interest rate of 6.8 percent on SBI Recurring Deposit. At the same time, senior citizens are getting interest at the rate of 7.50 percent. (SBI Net Banking)
RD can be done for different durations
The bank is offering customers an opportunity to avail RD for a maximum period of 10 years. SBI ranks first in the list of government banks. You can do RD for different duration as per your convenience. (Online SBI)
You can start from Rs 100 per month
Specially, you can start from Rs 100 in this scheme. Along with this you have to deposit money every month. You can also do RD for 1 year to 2 years duration. (SBI customer care number)
How to earn interest on Rs 55,000?
If you want interest of Rs 55000 then you need to get Rs 5000 RD per month. Along with this you have to get RD of 5 years duration. On this you will get the benefit of interest from the bank at the rate of 6.5 percent. The interest on the compounded amount will also increase every year and after 5 years you will get an interest of Rs 54,957.
How much interest will be earned over which period?
* General citizens will get 6.80 percent interest on RD less than 1 to 2 years old. Senior citizens will get 7.30 percent interest.
* Interest rate for RD above 2 years and below 3 years will be 7 percent for general citizens and 7.50 percent for senior citizens.
* Interest rate for RD above 3 years and below 5 years will be 6.50 percent for general citizens and 7 percent for senior citizens.
* Interest rate on 5 years to 10 years RD will be 6.50 percent for general citizens and 7.50 percent for senior citizens.
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