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With Revision In SBI Rates What Can You Get On An FD Of Rs 2 lakhs
After the repo rate hike, almost every bank revised its rates for recurring deposits, fixed deposits and savings account including SBI bank, the largest state bank. SBI Bank revised interest rates were made effective from February 15, 2023. So, based on the new revised rates for term deposits below Rs 2 crore, we have tentatively estimated how much interest would a person earn on Rs 2 lakhs for various tenors.
Here are the details.
| Tenors | General Public | Senior Citizens | ||
| Interest rate (%) | Interest Amount (Rs) | Interest rate (%) | Interest Amount (Rs) | |
| 7 days to 45 days | 3.00 | 738 | 3.50 | 861 |
| 46 days to 179 days | 4.50 | 4,437 | 5.00 | 4,933 |
| 180 days to 210 days | 5.25 | 6,151 | 5.75 | 6,737 |
| 211 days to less than 1 year (~364 days) | 5.75 | 11,821 | 6.25 | 12,864 |
| 1 Year to less than 2 years (729 days) | 6.80 | 28,832 | 7.30 | 31,088 |
| 2 years to less than 3 years (1094 days) | 7.00 | 46,241 | 7.50 | 49,892 |
| 3 years to less than 5 years (1824 days) | 6.50 | 76,035 | 7.00 | 82,901 |
| 5 years and up to 10 years (3649 days) | 6.50 | 1,81,044 | 7.50 | 2,20,384 |
| 400 days (Special Scheme i.e. "Amrit Kalash") | 7.10 | 16,035 | 7.60 | 17,241 |
Please note that the values are derived from using SBI Maturity Value Calculator and the interest values have been rounded off. Interest calculator was compounded on quarterly basis and was for indicative purpose only. The calculator derived rough estimated value.
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