Bank FD was treated as good investment when Repo rate was in double digit.
But today repo rate is 4% and chances to reduce very soon as per current GDP. In 2020 FD rate revised 3 time till September.. As per the current GDP of india , Interest rate will fall again.
So on such situation how will you protect your investment? So this is correct time to lock your FD interest rate 6.29 % for whole life by moving Bank’s FD to LIC ‘s FD . Now have a look of current bank FD rates.
SBI latest FD interest rates for general public effective 10 September
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to 210 days – 4.4%
211 days to less than 1 year – 4.4%
1 year to less than 2 years – 4.9%
2 years to less than 3 years – 5.1%
3 years to less than 5 years – 5.3%
5 years and up to 10 years – 5.4%
SBI Latest FD interest rates for senior citizens effective 10 September
SBI offers senior citizens’ an additional 50 bps interest rate across all tenors. After the latest revision, senior citizens will get 3.4% to 6.2% on FDs maturing in 7 days to 10 years.
Parinita Sharma is a Certified Financial Planner (CFP) & FS, CS, MDI, PG.
She is a member of team Advey. Team Advey is associated member of LIC of India with 100 Professional partners.
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