SBI FD Scheme: Deposit This Amount and Get ₹8,28,252 After 5 Years

Investing in a Fixed Deposit (FD) with the State Bank of India (SBI) is a secure and reliable way to grow your savings. If you are planning to deposit an amount in an SBI Fixed Deposit and want to receive ₹8,28,252 after 5 years, understanding the interest rates, principal investment, and calculation method is crucial.

SBI FD Scheme

Investing in an SBI Fixed Deposit (FD) is one of the safest and most reliable ways to grow your money. If you want to receive ₹8,28,252 after 5 years, investing around ₹6,00,000 (general public) or ₹5,75,000 (senior citizens) can help you achieve your goal. Use SBI’s FD calculator for precise calculations and ensure you check the latest interest rates before investing.

Also Check: SBI FD Offer: 2 लाख के निवेश पर 1 साल, 2 साल, 3 साल और 5 साल में इतना मिलेगा रिटर्न

SBI FD Scheme: Understanding SBI Fixed Deposit Interest Rates

SBI offers competitive interest rates for fixed deposits, making them an attractive investment choice. The rates vary based on factors like investor category (general or senior citizens) and the investment duration. For a 5-year FD, the current applicable interest rates are:

1. General Public: 6.50% per annum
2. Senior Citizens: 7.50% per annum (includes an additional 0.50% premium under the “SBI We-care” deposit scheme)

These rates are subject to change, so it’s always advisable to check the official SBI website before investing.

SBI FD Scheme: How Much Should You Invest to Get ₹8,28,252 in 5 Years?

To determine how much you need to invest today to get ₹8,28,252 after 5 years, we use the compound interest formula:

Where:

1. A = Maturity amount (i.e., ₹8,28,252)
2. P = Principal amount (to be calculated)
3. r = Annual interest rate (decimal form)
4. n = Number of compounding periods per year (4 for quarterly compounding)
5. t = Number of years (5)

For General Public (6.50% Interest Rate)

Calculated Principal Investment: ₹6,00,000 (approx.)

For Senior Citizens (7.50% Interest Rate)

Calculated Principal Investment: ₹5,75,000 (approx.)

These calculations are approximate and may vary slightly based on SBI’s compounding method.

Also Check: Google Pay Personal Loan: गूगल Pay से लो मनचाहा पर्सनल लोन

SBI FD Scheme: How to Invest in SBI Fixed Deposits?

Choose the Right SBI FD Scheme

1. Visit SBI’s official website or your nearest SBI branch.
2. Compare FD interest rates for different tenures.
3. Decide whether to invest as a general customer or senior citizen.

Open an FD Account

1. If you are an SBI customer, you can open an FD account online via SBI Net Banking.
2. Offline: Visit a branch, fill out an FD application form, and provide KYC documents.

Deposit the Amount

1. Transfer the required principal amount via Net Banking, UPI, or cash deposit.
2. Choose interest payout frequency (monthly, quarterly, annually, or at maturity).

Get FD Receipt

1. After deposit, SBI will issue an FD receipt, which you must keep safe for future reference.

Benefits of SBI FD Scheme

1. Guaranteed Returns – SBI FDs offer a fixed return on investment, making them safe and reliable.
2. Higher Interest for Senior Citizens – Senior citizens get an additional 0.50% interest rate boost.
3. Flexible Investment Options – SBI allows deposits starting from ₹1,000 with no upper limit.
4. Loan Against FD – You can take a loan against your FD without breaking it.
5. Tax Benefits – SBI offers 5-year Tax-Saving FDs that qualify for deductions under Section 80C.

Also Check: Senior Citizen Saving Scheme: Get ₹21,15,000 in Just 5 Years with This Investment

SBI FD Scheme (FAQs)