The State Bank of India (SBI) has introduced two new deposit schemes aimed at enhancing financial planning for customers. The first scheme, “Har Ghar Lakhpati,” is a pre-calculated Recurring Deposit designed to help customers accumulate ₹1 lakh or its multiples over time. The second, “Patrons,” is a term deposit product tailored for senior citizens aged 80 years or above, offering them higher interest rates.
SBI, India’s largest bank, explained that the “Har Ghar Lakhpati” scheme simplifies the process of achieving financial goals, making it easier for customers to plan and save. This scheme is also available to minors, promoting early financial planning and the habit of saving from a young age.
The “Patrons” scheme offers enhanced interest rates for senior citizens, benefiting both new and existing Term Deposit customers. The interest rate on both the schemes will be released soon. Click here to Join our whatsapp group to stay informed.
Apart from this, there are a lot more schemes of SBI which provide good rate of interest on investment.
- 50 bps more interest is provided under ”SBI We-care” deposit scheme.
- If you invest in FD for “444 days” (Amrit Vrishti), you will get Interest of 7.25 % and Senior Citizens are offered a Rate of interest 7.75%. The Scheme will be valid till 31st March 2025.
- For “400 days” (Amrit Kalash) FD, you will get Rate of Interest of 7.10 %. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31st March 2025.”
If you want to avail benefits of these schemes, then you can open and FD/RD account in SBI via YONO or branch. You can download YONO and open FD/RD digitally or you can visit your nearest SBI branch. While filling the application form for FD/RD, mention the name of scheme clearly and if you have any doubt, then you can take help of SBI staff in branch. You can also watch video below that explains how to open a new RD/FD.
The present FD interest rates of SBI are given below 👇 (Below Rs. 3 crore)
| Tenors | Revised Rates for Public w.e.f. 15/06/2024 (%) | Revised Rates for Senior Citizen w.e.f. 15/06/2024 (%) |
|---|---|---|
| 7 days to 45 days | 3.50 | 4.00 |
| 46 days to 179 days | 5.50 | 6.00 |
| 180 days to 210 days | 6.25 | 6.75 |
| 211 days to less than 1 year | 6.50 | 7.00 |
| 1 Year to less than 2 years | 6.80 | 7.30 |
| 2 years to less than 3 years | 7.00 | 7.50 |
| 3 years to less than 5 years | 6.75 | 7.25 |
| 5 years and up to 10 years | 6.50 | 7.50* |
