nhnhbg SBI Increased Interest on Fixed Deposits by 10 Basis Points – Money Up Down
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SBI Increased Interest on Fixed Deposits by 10 Basis Points

SBI Launches 3-in-1 account

During the economical tough time, SBI, the biggest bank of India increased their base interest rate on FD by 0.10% which has been effective since 15th December 2021. The FD accounts which has been created after 15th December or those who have completed their maturity naturally by then will get benefit of this increased rate.

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As per the financial experts of Money Up Down, this is a big news for the middle class people who majorly rely on Fixed Depostive and PF as their long term investment. Now, SBI being the path founder in the Indian banking sector, people are looking at the other banks if they make any increment in their interest rate.

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As per SBI, this will benefit a majority of people who were looking for some high return secure investment scheme and also it will somehow help getting control over inflation in the market.

Apart from this, SBI also have introduced three in one account feature where people don’t need to open separate savings account, demat account and online trading account. All these three tasks can be done through a single account, which will make it easy to handle the account and to ensure highest security and eventually it will reduce the chances of online frauds as well. Also the customers will be able to track their fund, income, expenditure and investment through a single login.

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