# Question: What Is The Interest Rate In SBI Bank?

## Is SBI safe for fixed deposit?

Now small banks, new banks and some NBFCs offer higher interest rates on FDs to customers as compared to other top banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, etc.

to name a few.

So your bank Fixed Deposits (FDs) are safe..

## How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 6.95%, then the number of years in which your FD will get doubled is 72/6.95= 10.36. Thus, it will take 10 years for your FD to get doubled.

## Which is better Post Office FD or bank FD?

Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.

## What is the interest of 30 lakh in SBI?

Loan Tenure can range from 5 to 30 years. Interest rates in the range of 6.95% to 7.35%. SBI home loan EMI per lakh starts from ₹ 662. However, you can calculate your home loan EMI using SBI home loan calculator 2020.

## What is the interest of 1 lakh in SBI?

Interest rate on SBI savings bank deposits Currently, the interest rate on savings bank deposits on balance up to Rs 1 lakh is 3.5 per cent. On balance above Rs 1 lakh, the interest rate is 3 per cent per annum, which is set at 2.75 per cent below RBI’s Repo Rate, with a minimum of 3 per cent for the entire balance.

## Which bank FD is best?

Fixed Deposit Interest Rates of Top 10 Banks in India for below Rs. 2 croreName of BankFor General Citizens (p.a)For Senior Citizens (p.a)Bank of Baroda2.90% to 5.30%3.40% to 6.30%IDFC Bank2.75% to 6.00%3.25% to 6.50%Bank of India3.25% to 5.30%3.75% to 5.80%Corporation Bank3.00% to 5.40%3.50% to 5.90%6 more rows

## How many years FD will double in SBI bank?

The SBI is currently offering 6.25 interest on deposits for 5-10 years. In HDFC fixed deposit, Rs 5000 will grow to Rs 9526 in 113 months, Rs 10,000 to Rs 19,049 and Rs 1 lakh to Rs 190,490 in the same period, according to HDFC Bank Fixed Deposit calculator.

## Which bank gives highest monthly interest?

Interest rates on Monthly Income FD SchemesTop banks monthly income FD interest rates for senior citizensBankInterest rateTenure rangeUnion Bank of India4.50%181 days to less than 1 yearFederal Bank5.25%271 days to less than 1 yearKotak Mahindra Bank5.25%365 days to 389 days1 more row

## What is the interest of 1 lakh in post office?

Interest rates for senior citizens are higher than the normal rates and ranges upto 6.70%….India Post Office Fixed Deposit Calculator 2020.TenureRatesMaturity Amount for ₹ 1 Lakh7 days to 1 year5.50% to 5.50%₹ 1,00,105 – ₹ 1,05,6143 more rows

## What is the interest of 10 lakh in SBI?

Balances above Rs 1 lakh and up to Rs 10 lakh will fetch 6 per cent per annum. For savings account balances above Rs 10 lakh, interest rate of 6.75 per cent per annum will be applicable. Therefore, to earn the higher interest rate you will be required to maintain the balance in the savings account.

## How much interest will 10 lakhs earn?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

## What is the interest of 2 lakh in SBI?

Highest interest rate offered by SBI is 5.40% for deposit amount below Rs.

## How much interest will 5 lakhs earn?

Additionally, if a bank is having an interest rate of 7.25 per cent per annum, (Discounted Rate of Interest of 7.21 per cent), then on a principal amount of Rs 5 lakh, the total interest comes to Rs 1,80,322, which yields Rs 3,005 as the monthly interest amount.

## Which savings account is best in SBI?

SBI’s basic savings bank deposit (BSBD) account SBI’s BSBD account is primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees, said SBI. SBI currently offers a rate of interest of 3.5 per cent per annum on deposits up to ₹ 1 crore in savings bank accounts.

## How is SBI FD interest calculated?

Fixed deposits come with a variable rate of interest, which depends on the tenure. The interest rates increase when you opt for a longer lock-in period. SBI offers FDs with tenures ranging from 7 days to up to 10 years with the rate of interest ranging from 5.75% to 6.85% (as of 22/02/2019).

## Is Post Office FD safe?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.

## What is SBI interest rate?

SBI FD RatesTenureFD Interest Rates for General CitizensFD Interest Rates for Senior Citizens7 days – 45 days2.90%3.40%46 days – 179 days3.90%4.40%180 days – 210 days4.40%4.90%211 days – 364 days4.40%4.90%4 more rows•Oct 7, 2020

## What is the interest rate of SBI per month?

For long-term deposits (5-10 years), the interest rate is 6.10% and 6.60% for non-senior and senior citizen investors, respectively….SBI FD Rates.TenureNon-senior citizen and NRO FD (%)Senior Citizen FD (%)7-45 days4.50%5.00%46-179 days5.50%6.00%6-12 months5.80%6.30%1-5 years6.10%6.60%1 more row

## What is the minimum balance in SBI 2020?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas. Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above.

## Which type of FD is best in SBI?

The highest FD interest for SBI is 6.75% for regular accounts and 7.25% for Senior Citizens, only for the Fixed Deposits with tenure of minimum 5 years.