SBI Fixed Deposit Monthly Income Scheme: Get Multiple Deposit Scheme

SBI is one of the leading and trusted bank in the country. They have a wide range of branch across in the country. The state bank of India serves multiple services to fulfill customer’s requirements. Fixed deposit is the product where deposit amount and the interest is accruing on the deposit money. It's the best thing for the individual to put their money and grow the amount of their savings. This type of investment can give you a profit because the risk factor involved is almost zero.

The SBI fixed deposit monthly income scheme offers several fixed deposits plans to get the financial needs of the customers. The range starts at seven days to ten years at the competitive rate of interest, so that the customer can increase its savings. The deposit can book with the lowest amount of Rs 1,000 with no maximum limit. Do you know during the tenure, people are eligible to receive an interest, the SBI fixed deposit calculator is the tool which gives the exact calculation about the amount of interest.

The SBI fixed deposit monthly income scheme available on term wise. Yes, you can select your scheme according to the convenience.

SBI Short Term Deposit Scheme

This scheme for those who need to meet short-term financial goals along with quicker returns. The bank can offer interest rates from 5.75% to 6.40% range also these come with a minimum tenure of seven days and a maximum tenure of anywhere less than one year.

SBI Medium Term Deposit Scheme

This can lock-in period of at least one year and offer a fruitful rate of return on maturity. The range starts at 6.40% to 6.70% annually. One can get the highest rate of interest at 6.70% per annum with a tenure between two years and five years.

SBI Long Term Deposit Scheme

Those customers want to save their extra funds for a longer tenure can use this scheme. These ones come with five years to ten years tenure and offer a rate of interest at 6.75% per annum.

SBI Senior Citizen Deposit Scheme

SBI fixed deposit monthly income scheme for senior citizens also can available. They can select for short-term or long-term FD deposits. The interest rates start at 6.25% to 7.25% per annum. For the tenure of two to five years, one can get the highest rate of interest at 7.25% per annum. The investment period of 211 days to less than two years, 6.90% the account holder can avail interest per annum. An interest rate of 7.20% can get three to five years. A senior citizen scheme is a perfect option for pensions as it works as an additional source of income.

To use the SBI fixed deposit monthly income scheme need to apply online and get all the services. You can also provide the relevant documents so that you can get instant approval.