SBI Fixed Deposit Interest Rates- FD interest rates have now become attractive. Before investing money anywhere, it is important to know that in how much time we will get interest in our investment. Online FD calculator is very useful in this.
New Delhi. The effect of increasing the repo rate of the Reserve Bank of India has been that the interest rates of fixed deposits have also increased in the country. Now the returns of FD have become very attractive. The country’s largest bank State Bank of India (SBI) has also increased the interest rates of Fixed Deposits (FDs) of different maturities. SBI has increased the interest of FDs with maturity of 1, 2, 3 and 5 years for less than Rs 2 crore. The new deposit rates of the bank (SBI FD Interest Rate 2023) have come into effect from 15 February 2023.
Calculating the interest received on FD is not an easy task for everyone. Many people want to know before investing money anywhere that how much interest they will get in how many days. If you are interested in getting FD in SBI, then the problem of calculating your interest has gone away. The FD deposit calculator available on the SBI website will give you an instant idea of the interest you will earn on maturity and the total corpus of your FD for a tenure of 1, 2 or 3 years.
Rs 6,975 interest will be received in a year
SBI has now reduced the interest rates on deposits with maturity of 1 year to 6.80 percent. According to the SBI Fixed Deposit calculator, if you have deposited Rs 1 lakh for 1 year, you will get an interest of Rs 6,975 in a year and on maturity you will get a total of Rs 1,06,975. SBI has increased the interest rates on deposits with maturity of 2 years from 6.75 per cent to 7 per cent. If you deposit Rs 1 lakh for 2 years, you will get Rs 14,888 as interest in two years.
SBI has increased the interest rates on deposits with maturity of 3 years from 6.25 per cent to 6.50 per cent. According to the SBI calculator, you will get Rs 21,341 in the form of interest on a three-year FD during this period. In this way, after three years, your amount will increase to Rs 121,341.
Rs 29,422 interest will be made in 4 years
State Bank of India is currently paying interest at the rate of 6.5 per cent per annum on fixed deposits maturing in a period of 4 years. If an investor gets an FD of Rs 1 lakh in SBI for 4 years, he will get Rs 29,422 as interest in four years. SBI is also giving 6.50% interest on deposits with maturity of 5 years. If you have deposited Rs 1 lakh for 5 years, then you will get Rs 38,042 as interest in 5 years. In this way, in five years, your Rs 1 lakh will increase to Rs 138,042.
