State Bank of India has introduced a special 400-day fixed deposit scheme offering an attractive interest rate of 7.10%. This FD is designed for investors looking for better returns than regular savings and standard short-term deposits.
Why the 400-Day FD Is Gaining Attention
With fluctuating interest rates and market uncertainty, many investors prefer safe and predictable options. SBI’s 400-day FD provides a balance between short tenure and higher returns, making it suitable for conservative investors.
Interest Rate and Investment Amount
Under this scheme, an investment of ₹2 lakh earns interest at 7.10% over 400 days. The rate is higher than many regular SBI fixed deposits, making it a popular choice among depositors seeking stable income.
Expected Returns on ₹2 Lakh Investment
At the end of the 400-day tenure, a ₹2 lakh investment grows significantly through interest earnings. The final maturity amount depends on the chosen interest payout option, but overall returns remain competitive for a low-risk product.
Who Should Consider This FD
This FD is ideal for individuals who want guaranteed returns without exposure to market risks. Retirees, salaried employees, and first-time investors can benefit from the safety and reliability of an SBI-backed deposit.
Things Investors Should Keep in Mind
Before investing, depositors should consider liquidity needs, as premature withdrawal may attract penalties. It is also important to compare this special FD with other available options to ensure it aligns with financial goals.
Conclusion
The SBI 400-Day FD offering 7.10% interest is a strong option for investors seeking safe and better returns on a ₹2 lakh investment. With a trusted bank and a short tenure, this scheme provides a reliable way to grow savings with minimal risk.