With this scheme of SBI you will get better returns, bumper returns on 2 years deposits

SBI Special FD: If you want to save some money for future by dividing your earnings. Along with this, if you want to keep your investment money safe and get better returns, SBI's special FD scheme is the best choice for you. According to media reports, State Bank of India (SBI) has increased interest rates on its special FD scheme. This move by SBI will be useful for retail investors and investors investing large sums in Fixed Deposits (FDs). After increased interest rate, SBI Special FD Scheme will provide higher returns in less time. The new interest rate of SBI Special FD Scheme is effective from May 15, 2024. SBI Best Term Deposit: According to media reports citing SBI website, SBI Special FT Scheme is the bank's best term deposit. The bank has offered to investors only last year. The aim of this scheme of SBI is to provide high returns to the investors in a short period of time. It is said that after the interest rate hike, depositors will get higher returns on SBI Special FD scheme than interest on regular FD. How much interest has increased in SBI Special FT SBI has increased the interest on deposits under the Special FT scheme by 75 bps. Under this scheme, the bank offers 7.4 percent interest for two years. At the same time, 7.10 percent interest is given for a period of one year. Higher interest for senior citizens: Under the SBI special FT scheme, senior citizens are offered higher interest than ordinary investors, the report said. Deposits made under the scheme for senior citizens are offered an additional interest of 50 bps (basis points), the statement said. Now, under this scheme, senior citizens are offered 7.9 percent interest on 2-year investment and 7.6 percent interest on 1-year investment. Also read: What is an exit pole and how is it analyzed? Large investors investing Rs 2 crore or more under this scheme will get 7.30 per cent interest for one year investment and 7.40 per cent interest for 2 years investment. At the same time, senior citizens who invest large amounts will get 7.80 percent interest on investment for 1 year and 7.90 percent interest on investment for 2 years. Also Read: Why RBI Is Collecting So Much Gold From Abroad, Got A Signal? The post SBI's Scheme Gets You Better Profits, Bumper Returns on 2 Year Deposits appeared first on Prabhat Khabar.