Know Your FD Rate: Rs 6 lakh, Rs 12 lakh lump-sum investments deliver these returns to senior citizens, other depositors now

In a crowded fixed deposit (FD) market, two limited-period schemes from the State Bank of India (SBI) are drawing attention for their attractive interest rates. The SBI Sarvottam Special FD and Amrit Kalash Special FD offer competitive returns for both general and senior citizen depositors, with maturity tenures ranging from one to two years.

SBI Sarvottam Special FD

The SBI Sarvottam Special FD is a non-callable retail term deposit available in one- and two-year tenures. Here are the key features:

• Interest Rates:
  • General Citizens:
    • One-year deposit: 7.10%
    • Two-year deposit: 7.40%
  • Senior Citizens:
    • One-year deposit: 7.40%
    • Two-year deposit: 7.90%

For bulk retail deposits, the interest rates are slightly higher:

• Interest Rates for Bulk Deposits:
  • General Citizens:
    • One-year deposit: 7.30%
    • Two-year deposit: 7.80%
  • Senior Citizens:
    • One-year deposit: 7.40%
    • Two-year deposit: 7.90%

Estimated Returns for SBI Sarvottam Special FD

1-Year FD Returns for General Citizens:

• Investment of Rs 6,00,000: Estimated Returns: Rs 41,852, Total Value: Rs 6,41,852
• Investment of Rs 12,00,000: Estimated Returns: Rs 83,704, Total Value: Rs 12,83,704

1-Year FD Returns for Senior Citizens:

• Investment of Rs 6,00,000: Estimated Returns: Rs 45,014, Total Value: Rs 6,45,014
• Investment of Rs 12,00,000: Estimated Returns: Rs 90,027, Total Value: Rs 12,90,027

Punjab National Bank 400-Day Special FD

Another competitive option is Punjab National Bank's (PNB) special 400-day FD, which offers:

• Interest Rates:
  • General Citizens: 7.30%
  • Senior Citizens: 7.75%
  • Super Seniors (aged 80 and above): 8.05%

Estimated Returns for PNB 400-Day FD

Returns for General Citizens:

• Investment of Rs 6,00,000: Estimated Returns: Rs 2,61,469, Total Value: Rs 8,61,469
• Investment of Rs 12,00,000: Estimated Returns: Rs 5,22,938, Total Value: Rs 17,22,938

Returns for Senior Citizens:

• Investment of Rs 6,00,000: Estimated Returns: Rs 2,80,706, Total Value: Rs 8,80,706
• Investment of Rs 12,00,000: Estimated Returns: Rs 5,61,411, Total Value: Rs 17,61,411

With the growing popularity of special FDs, these limited-time offers from SBI and PNB present a compelling opportunity for investors seeking higher returns on their savings. Senior citizens, in particular, stand to benefit from the elevated interest rates, making these fixed deposit options particularly attractive for maximising returns.