00:00 The biggest government bank of the country, State Bank of India has given good news to its investors.
00:05 The bank has increased the interest rate on fixed deposit.
00:09 The SBI has increased the interest rate on FD of less than 2 crores.
00:13 These new rates have been implemented since May 15.
00:16 Now, investors can take more profit on FD.
00:19 In this video, we will understand in detail how much interest rate has increased on FD.
00:24 And if you invest 1 lakh rupees, how will you get profit and how much interest rate will you get?
00:30 Hi, this is Bhavna and you are watching GoodReturns.
00:33 So, first thing, SBI has increased the interest rate on FD of less than 2 crores to 0.75%.
00:41 If you were getting 5% interest rate on FD of a particular period, now you will get 5.75%.
00:48 SBI offers its customers FD of at least 7 days and for different periods, different interest rates are offered.
00:58 Whereas, senior citizens get 0.50% extra interest rate in comparison to ordinary people.
01:06 So, SBI has different rates of interest.
01:09 For 7 days to 45 days, ordinary people get 3.5% interest rate on FD and senior citizens get 4% interest rate.
01:20 The next time period is from 46 days to 179 days.
01:26 On FD, ordinary people used to get 4.75% interest rate which is now 5.5%.
01:34 Apart from this, the rate of interest for senior citizens has increased to 6% because it has increased.
01:39 Apart from this, the next rate is from 180 days to 210 days.
01:43 Earlier, the rate of interest on FD was 5.75% which is now 6%.
01:48 Whereas, for senior citizens, it is 6.5%.
01:51 The next tenure period is from 211 days to less than 1 year.
01:56 The rate of interest on FD of 6% is now 6.25% and for senior citizens, it is 6.75%.
02:05 If FD is less than 1 year to 2 years, then it will be 6.8% and for senior citizens, it will be 7.3%.
02:12 Apart from this, if FD is more than 2 years but less than 3 years, then the rate of interest on FD will be 7%.
02:20 If FD is more than 3 years but less than 5 years, then it will be 6.75%.
02:25 If FD is less than 5 years to 10 years, then the rate of interest on FD will be 6.5%.
02:31 If you calculate, suppose you deposit 1 lakh rupees,
02:36 then you will get a different time period because you will get different rate of interest.
02:42 Suppose, if you have FD for 46 days to 189 days,
02:47 and FD for 1 lakh rupees, then you will get 5.50% rate of interest on it.
02:53 You will get a benefit of 690 rupees to 2715 rupees on it.
02:58 If you have FD for 46 days, then you will get 1 lakh 690 rupees on maturity.
03:05 If you have FD for 189 days, then you will get 1 lakh 2715 rupees.
03:11 If you have FD for any day from 46 days to 189 days,
03:16 then you will get 5.50% rate of interest on it.
03:22 You can calculate the rest of the rates in the same way.
03:25 We have told you for example, if you deposit FD for 180 days, 1 year, 2 years,
03:31 then you can calculate the interest rates and find out how much interest you will get on 1 lakh.
03:39 This is a good news for those who have FD in SBI because SBI has increased the rate of interest.
03:46 Do you agree with this method for investment?
03:50 Do you also invest in SBI FD?
03:53 Do tell us in the comment section.
03:55 If you are watching this video on Facebook, then like the Facebook page.
03:58 And to know all the news about personal finance and business world,
04:01 don't forget to subscribe to Goodreturns' YouTube channel.
Comments