SBI Senior Citizen FD Latest Interest Rates: Know maturity amounts on Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh investments in 1-, 3-, and 5-year FDs

SBI Senior Citizen FD Interest Rates 2024: To live a comfortable life as a senior citizen, where you don't have to depend on anyone for your daily expenditure, it's important to have a source of income. It can come from monthly pension, rental income, or return from the investments you make. It is not just about investments made in youth that can help a senior citizen get income in their old age.

They can also invest money in their old age.

These investment tools can be non-marked linked, which offer guaranteed income.

That's the reason a lot of senior citizens also invest in FDs, where a lump sum investment can help one get a monthly income.

Banks and non banks offer extra interest rates to senior citizens.

Many banks such as SBI runs FD schemes of different durations, where they offer different interest rates.

SBI runs the Amrit Kalash, 1-year, 3-year, and 5-year FD schemes for senior citizens.

Among all SBI FDs, Amrit Kalash offers the highest interest rate at 7.75 per cent.

The interest rates for 1-, 3-, and 5-year SBI senior citizen FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively (Data as per Paisabazaar.com). 

In this write-up, know maturity amounts on Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh investments in SBI senior citizen FD schemes for 1, 3, and 5 years.

In 1-year SBI Senior Citizen FD

Since the 1-year SBI Senior Citizen FD offers 7.30 per cent interest, a Rs 5 lakh investment in it will give an estimated return of Rs 37,511 and the estimated maturity amount of Rs 5,37,511.

On Rs 10 lakh investment in it, an investor will get an estimated interest of Rs 75,023 and the estimated maturity of Rs 10,75,023.

If one invests Rs 15 lakh in the 1-year FD, they will get estimated Rs 1,12,534 in interest and estimated Rs 16,12,534 in maturity.

A Rs 20 lakh investment in the 1-year FD can help one get an estimated return of Rs 1,50,046 and the estimated maturity of Rs 21,50,046.

In 3-year SBI Senior Citizen FD

At an interest rate of 7.25 per cent, a Rs 5 lakh investment in the 3-year FD will provide an estimated interest of Rs 1,20,273 and the estimated maturity amount of Rs 6,20,273.

On Rs 10 lakh investment in the scheme, an investor will get an estimated interest of Rs 2,40,547 and the estimated maturity of Rs 12,40,547.

If the investment in the 3-year SBI Senior Citizen FD is Rs 15 lakh, the investor will get an estimated interest of Rs 3,60,820 and the estimated maturity amount of Rs 18,60,820.

On investing Rs 20 lakh in the 3-year FD, one will get an estimated interest of Rs 4,81,094 and the estimated maturity of Rs 24,81,094.

In 5-year SBI Senior Citizen FD

Since the 5-year SBI Senior Citizen FD provides 7.50 per cent interest, a Rs 5 lakh investment in it will give an estimated interest of Rs 2,24,974 and the estimated maturity amount of Rs 7,24,974.

On Rs 10 lakh investment in the FD, the estimated interest will be Rs 4,49,948 and the estimated maturity will be Rs 14,49,948.

A Rs 15 lakh investment in the 5-year SBI Senior Citizen FD means an estimated return of Rs 6,74,922 and the estimated maturity of Rs 21,74,922.

If one invests Rs 20 lakh in the FD, they will get an estimated interest of Rs 8,99,896, and the estimated maturity amount of Rs 28,99,896.