SBI Senior Citizen FD Interest Rates: What do you seek financially when you grow old? You need an income source that can help you meet your daily expenses with ease. Why are you more concerned about such an income source at an old age? Because as you grow old, there are high chances that you have no regular job or any other regular income source to help you meet your expenses. Amid such a backdrop, you feel the importance of investment sources that give you guaranteed returns and a pre-fixed monthly income. This is the reason why many people who want non-marked-liked guaranteed return income options seek FDs. 

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FD schemes are also popular among senior citizens as they need a regular monthly income, and many of the banks and NBFCs, including SBI, offer higher interest rates to senior citizens than the rates they offer to general citizens.

The 5-year FD also provides tax benefits, where deposits up to Rs 1.50 lakh in a financial year are not taxed, as per Section 80C of the Income Tax Act. 

SBI runs a lot of FD schemes for senior citizens, the popular of which are one-year, three-year and five-year.

Interest rates of SBI senior citizen FDs are 7.30 per cent for the one-year FD, 7.25 per cent for the three-year FD, and 7.50 per cent for the five-year FD (As per Paisabazaar.com data).

In this write-up, know what will be your return in on all these three FDs if you invest Rs 2.50 lakh, Rs 5 lakh, and Rs 7.5 lakh, and Rs 10 lakh in each of the schemes.

SBI Senior Citizen 1-year FD

If you invest Rs 2.50 lakh in the 1-year scheme, where the interest is 7.30 per cent, you will get a return of Rs 18,250 and the maturity value will be Rs 2,68,250.

On a Rs 5 lakh investment, you will get an interest of Rs 36,500 and the maturity value will be Rs 5,36,500.

A Rs 7.5 lakh investment in the 1-year scheme will give you Rs 54,750 in interest and the maturity value will be Rs 8,04,750.

If you invest Rs 10 lakh, you will get Rs 73,000 in interest and the maturity value will be Rs 10,73,000.

SBI Senior Citizen 3-year FD

If you invest Rs 2.50 lakh in the 3-year FD, where the interest is 7.25 per cent, you will get a return of Rs 58,412.46 and the maturity value will be Rs 3,08,412.46.

On a Rs 5 lakh investment in this FD, you will get an interest of Rs 1,16,824.91 and the maturity value will be Rs 6,16,824.91.

A Rs 7.5 lakh investment in the 3-year scheme will give you Rs 1,75,237.37 in interest and the maturity value will be Rs 9,25,237.37.

If you invest Rs 10 lakh, you will get Rs 2,33,649.83 in interest and Rs 12,33,649.83 in maturity.

SBI Senior Citizen 5-year FD

If you invest Rs 2.50 lakh in the 5-year scheme, where the interest is 7.50 per cent, you will get a return of Rs 1,08,907.33 and the maturity value will be Rs 3,58,907.33.

On a Rs 5 lakh investment, you will get an interest of Rs 2,17,814.66 and the maturity value will be Rs 7,17,814.66.

A Rs 7.5 lakh investment in the 5-year scheme will give you Rs 3,26,721.99 in interest and Rs 10,76,721.99 as the maturity amount.

If you invest Rs 10 lakh, you will get Rs 4,35,629.33 in interest and Rs 14,35,629.33 as the maturity amount.