Introduction:
SBI (State Bank Of India) one of the biggest Bank.when we want make profit
by bank we deposit and hold few some time FD and it is good way.
fd means we hold our money in bank months or years,when we invest in bank,some of the
fixed and interest rates are applied.
Sbi fd is best option for who wanted safe and guaranteed returns its Suitable students,employes and businesses peoples.
What is FD?
●FD stands for Fiexed Deposit.
●We have to depossit a specific amount in bank ,and recieve interest for years.
●FD (Fixed Deposite)is a safe investment.
Sample:
If you deposit 50,000 for 1 year.if bank interest 6%,after one year you make
50,000+3000 interest.
Kind of SBI FD
1.Regular Fixed Deposit (Normal FD)
●Its normal FD.
●Much security and liquidity.
●Minimum amount:1000 minimum period: 7 days
2.Tax saver FD (TD)
●You keep it money in Tax saver fd 5 Years
●Make tax profit in it section 80c
●Withdrawal after 5 years
3.Cumulative FD
Gradually combine interest
after complete period make principle + interest.
4.Non-Cumulative FD
Make Interest Gradually every month or year
interest credited in your account every month or 3 months
SBI FD Interest Rate
FD interest rate depending on bank policy
Approxmately in 2026
7 days-45 days:3%
1 month-6months: 4.5%
6 months-1 year:5.5%
1 year-2 years: 6%
2 years-5 years: 6.25%
5 years-10 years: 6%
tip:If you FD much time you make much interest.
How To Start SBI FD
1.Online or Bank Visit
May FD internet banking/yono sbi app or SBI branch
2.Decide Amount
Minimum start with 1000
3.Select period
May you FD 7 days to 10 years.
4.Select interest type
Cumulative (add interest growth)
Non-Cumulative ( get interest)
5.Confirm Deposit
Collect amount in fd account by cash/online or cheque
FD Profit
1.Safe Investment
Money fully safe in SBI FD
2.Fixed income
Make interst from fd
3.Tax saving option
Profit of IT Section 80c by 5 years tax saver fd
4.Flexibility
May interest withdraw in non-cumulative fd
Compound Interest (CI) In FD
Principle+interest depending on interest=compound interest
Its using to growing interest
example:
If you FD 1,00,000 with 5% interest yearly with two years.
1st yea:1,00,0005%=5,000 2nd year:1,00,0005%=5250
Total=1,10,250
Make most extra profit in fd by compound interest.
SBI FD Penalty / Premature Withdrawal
Penalty before take fd maturity
0.5%-1% cutting penalty
Its keep till good fd maturity period
SBI FD Online vs offline
Offline (Bank Visit)
Simple doing staff guide
may Cash,cheque,deposit
Online (Yono/internet banking):
may fd everywhere
have been instant confirmation and interest calculator facility
SBI FD Interest Withdrwal Option:
1.Monthly payout:
May take interest monthly
2.Quarterly payout
every three months interest collected in account
3.Yearly payout
Bank credit interest every year
4.Cumulative
Fd interst growing till maturity
SBI FD And Taxation
Tds apply on interest 40,000 (senior citizens 50,000)
Tax saving limit in tax saver fd 80c
How to earn much by SBI FD
1.Long term fd-keep for long time by much compound interest
2.Senior Citizen FD-60+years,higher interest rate
3.Cumulative FD-interest reinterest and much grow
4.Compare rates-Do compare SBI FD vs other bank FD
Example Calculation of FD Earnings
Scenario:
Deposit:50,000
Period:three years
Interest:6%
Year 1: 50,0006%=3,000>total=53,000 year 2:53,0006%=3,180>total=56,180
year 3:56,180*6%=3,370>total=59,550
Total profit:9,550
SBI FD Tips
1.consider fd to emergency fund
2.Long-termFD-more profit
3.Using yono sbi app simple and fast
4.Tax saver fd – tax savings
5.Premature withdrawal – avoid unless urgent
Conclusion:
we are make profit by keep SBI fixed deposit.we are getting good profit in long term
compound interest,senior citizens make extra profit using tax saver fd
Before keep fd seeing carefully period,interest rate,cumulative/non cumulative option.
SBI fd financial planning one kind of part in every life.