SBI Senior Citizen FD Interest Rates: Know your maturity amounts on Rs 3 lakh, Rs 6 lakh, Rs 9 lakh and Rs 12 lakh investments in 1-, 3- and 5-year fixed deposit schemes

SBI Senior Citizen FD Interest Rates: Senior citizens need to have some source of income to meet their monthly expenses. The best is that they have their own source of income and don't have to depend on others. But in old age, they often don't have energy to work or don't find jobs at all. That's why they look for investment options that can give them a steady income. Fixed deposit schemes may provide them with the option to have a regular income in the form of interest. In FDs, senior citizens invest a lump sum amount and get interest monthly, quarterly, or yearly. If they have invested a substantial amount in an FD, they can get interest that may help them meet their daily expenses easily. Post office, banks, and non-banking finance companies (NBFC) offer a lot of FD schemes. 

Like many banks, State Bank of India (SBI) also offers FD schemes for senior citizens.

The bank runs the 400-day Amrit Kalash, 1-year, 3-year, and 5-year FDs for senior citizens.

The bank offers its highest interest rates in the Amrit Kalash scheme at 7.60 per cent.

For senior citizens, SBI's interest rates in the 1-year, 3-year, and 5-year schemes are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively.
The 5-year FD provides tax benefits of up to Rs 1.50 lakh on deposits in a financial year.

On completion of the FD, senior citizens can get their principal amount back.

In this write-up, know the interest amounts you will get on investments of Rs 3 lakh, Rs 6 lakh, Rs 9 lakh, and Rs 12 lakh in the 1-, 3-, and 5-year SBI senior citizen FD schemes. 

SBI Senior Citizen (1-year FD)

The interest rate in the 1-year FD is 7.30 per cent, so if you invest Rs 3 lakh, it will give you Rs 22,507 in return, and the maturity amount will be Rs 3,22,507.

If you invest Rs 6 lakh in the same scheme, you will get interest of Rs 45,014, while your maturity amount will be Rs 6,45,014.

If you invest Rs 9 lakh, you will get interest of Rs 67,521 and the maturity amount will be Rs 9,67,521.

On a Rs 12 lakh deposit, SBI will give you Rs 90,027 in interest and Rs 12,90,027 in maturity.

SBI Senior Citizen (3-year FD)

Since the 3-year FD provides an interest rate of 7.25 per cent, interest on the Rs 3 lakh deposit will be Rs 72,164, while the maturity amount will be Rs 3,72,164.

A Rs 6 lakh investment in the 3-year FD will give you Rs 1,44,328 in interest and Rs 7,44,328 in maturity.

On investing Rs 9 lakh, you will get interest of Rs 2,16,492 and Rs 11,16,492 in maturity.

If your investment amount is Rs 12 lakh, your interest amount will be Rs 2,88,656 and the maturity value will be Rs 14,88,656.

SBI Senior Citizen (5-year FD)

The 5-year FD offers an interest rate of 7.50 per cent, so a Rs 3 lakh investment in the FD will give you Rs 1,34,984 in interest and Rs 4,34,984 in maturity value.

Investing Rs 6 lakh in the 5-year scheme will provide you with interest of Rs 2,69,969. The maturity value will be Rs 8,69,969. 

If you invest Rs 9 lakh in this FD, you will get interest of Rs 4,04,953, and the maturity amount will be Rs 13,04,953.

A Rs 12 lakh investment will help you get Rs 5,39,938 in interest and Rs 17,39,938 in maturity.