Keeping money safe whilst getting good returns out of it is now a common practice among many Indians. Due to the unstable market and rising prices, people are turning towards safer and guaranteed income investments as their options.
Under such circumstances, the SBI 400 Day Fixed Deposit (FD) has become the top choice. This special FD scheme, which is supported by the largest public sector bank in India, has come up with very high-interest rates for normal and old-age investors as well.
Before going into the specifics, let’s see why this FD is so crucial at this moment and what is the benefit of investing ₹2 lakh.
SBI came up with this short-term fixed deposit to attract customers to save money in the long term and to offer better returns than regular fixed deposits at the same time. This scheme provides a rare chance to lock in higher fixed returns for the upcoming period as interest rates are on the rise.
What Is SBI 400 Day Fixed Deposit Scheme?
The SBI 400 Day Fixed Deposit is precisely a 400 days fixed deposit where the State Bank of India allows you to invest for the whole duration. This scheme is made for such types of investors who only want to have predictable returns for the short-to-medium term and not for regular FDs with flexible tenures.
The main feature of this FD is that it is available at a higher interest rate which is more profitable than the normal SBI FD rates.
Current Interest Rates Offered by SBI
By offering this scheme SBI is giving a good opportunity to the risk-averse investors to earn more interest by providing very competitive interest rates.
General Citizens: Up to 6.60% per annum
Senior Citizens: Up to 7.10% per annum
These rates are subject to conditions laid down by SBI and can be altered, hence the importance of investment at the right time.
How Much Will ₹2 Lakh Investment Earn?
By investing ₹2 lakh in the SBI 400 Day FD, your cash grows slowly but steadily with no risk from the market. The amount earned through interest will be dependent on your investor category.
The additional interest for senior citizens will definitely improve the monthly or maturity returns thus making it a good retirement planning or fixed income need.
SBI 400 Day FD – Key Details at a Glance
| Feature | Details |
|---|---|
| Bank Name | State Bank of India |
| FD Tenure | 400 Days |
| Minimum Investment | ₹1,000 |
| Maximum Investment | No Limit |
| Interest Rate (General) | Up to 6.60% |
| Interest Rate (Senior Citizen) | Up to 7.10% |
| Risk Level | Very Low |
| Premature Withdrawal | Allowed (with penalty) |
Who Should Invest in This FD Scheme?
This FD scheme is suitable for:
- Elderly individuals looking for a safe and higher return
- People in the salaried class having extra savings
- Cautious investors staying away from stock market risks
- Those with short-term financial goals
- Individuals desiring guaranteed and predictable income
In case safety and trust are more important to you than high-risk returns, then this FD will be a perfect fit.
Benefits of Choosing SBI 400 Day FD
One of the greatest benefits is trust. SBI is fully government-backed and totally dependable.
Along with trust, you’ll get the following other benefits too:
- obligated returns
- zero market volatility impact
- more than normal FDs
- investment online and at branch made easy
- loan against FD benefit
First-time as well as experienced investors can benefit from these advantages.
Things to Keep in Mind Before Investing
Even though the scheme is appealing, the investors must bear in mind that:
- Interest is liable to tax according to the income tax regulations
- Withdrawing early may incur penalties
- The interest rates are fixed at the time of booking
If you plan according to your tax bracket, it will help you earn better net returns.
How to Open SBI 400 Day FD Easily?
- This FD can be opened through:
- SBI Internet Banking
- YONO SBI App
- Going to the nearest SBI branch
The procedure is easy and requires little documentation.
Final Conclusion: Should You Invest?
The SBI 400 Day FD is a good investment for anyone wanting to have safe, stable, and secured returns in the uncertain financial world of today. Your investment of ₹2 lakh can give you the benefit of interest with no effort and no risk involved.
If you have some money lying idle and at the same time you want peace of mind along with reasonable returns, then this FD is definitely worth it. Check the latest rates, compare your different options, and invest quickly to make the higher interest yours.