Latest SBI Senior Citizen FD Rates: What investors can get on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year FDs
Latest SBI Senior Citizen FD Rates: SBI offers its highest interest rate to senior citizens in the Amrit Vrishti fixed deposit (FD) scheme. The 444-day special FD offers 7.75 per cent interest rate to senior citizens. The interest rates in its 1-, 3-, and 5-year FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively.
Latest SBI Senior Citizen FD Rates: Senior citizens need a regular income source in their retirement age. They have market-linked options, such as mutual funds, and non-market-linked options, such as fixed deposit, post office Senior Citizen Savings Scheme (SCSS), and Monthly Income Scheme (MIS). Since most of them prefer not to take much risk with their money in old age, they opt for fixed income options, where they can get return in the form of interest. That's why a lot of them invest in FDs. In FD investment, they get a fixed interest for the duration of the scheme. They can get this interest either on maturity or monthly, quarterly, half-yearly, or yearly. Banks also encourage senior citizens to invest money in FDs and offer higher interest rates to them compared to what they offer to general citizens.
Like many other banks, State Bank of India (SBI) also offers special FDs like Amrit Kalash, Amrit Vrishti, SBI Sarvottam, and traditional FDs, such as 1-, 3-, 5-, and 10-year to senior citizens. The country's top lender offers its highest interest rate to senior citizens in the Amrit Vrishti special FD at 7.75 per cent. The interest rates in its 1-, 3-, and 5-year FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively.
Know what senior citizens will get in return if they invest Rs 3 lakh, Rs 6 lakh, or Rs 9 lakh in SBI's Amrit Vrishti, 1-, 3-, and 5-year FDs.
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SBI Amrit Vrishti Senior Citizen FD: Maturity on Rs 3 lakh investment
The estimated interest on Rs 3 lakh investment will be Rs 29,361.13, and the estimated maturity will be Rs 3,29,361.13.
SBI Amrit Vrishti Senior Citizen FD: Maturity on Rs 6 lakh investment
Senior citizens will get estimated Rs 58,722.25 in interest and estimated Rs 6,58,722.25 in maturity.
SBI Amrit Vrishti Senior Citizen FD: Maturity on Rs 9 lakh investment
On a Rs 9 lakh investment, senior citizens will get estimated Rs 88,083.38 in interest and estimated Rs 9,88,083.38 in maturity.
In 1-year SBI Senior Citizen FD: Maturity on Rs 3 lakh investment
In the 1-year, the estimated interest on Rs 3 lakh investment will be Rs 22,507, and the estimated maturity will be Rs 3,22,507.
In 1-year SBI Senior Citizen FD: Maturity on Rs 6 lakh investment
A Rs 6 lakh investment in the1-year FD will give estimated Rs 45,014 in interest and estimated Rs 6,45,014 in maturity.
In 1-year SBI Senior Citizen FD: Maturity on Rs 9 lakh investment
On investing Rs 9 lakh, senior citizens will get estimated Rs 67,521 in interest and estimated Rs 9,67,521 in maturity.
In 3-year SBI Senior Citizen FD: Maturity on Rs 3 lakh investment
On Rs 3 lakh investment in the 3-year FD, senior citizens will get Rs 72,164 in interest and Rs 3,72,164 in maturity.
In 3-year SBI Senior Citizen FD: Maturity on Rs 6 lakh investment
A Rs 6 lakh investment will give estimated Rs 1,44,328 in interest and estimated Rs 7,44,328 in maturity.
In 3-year SBI Senior Citizen FD: Maturity on Rs 9 lakh investment
A Rs 9 lakh investment will give estimated Rs 2,16,492 in interest and estimated Rs 11,16,492 in maturity.
In 5-year SBI Senior Citizen FD: Maturity on Rs 3 lakh investment
A Rs 3 lakh investment will give estimated Rs 1,34,984 in interest and estimated Rs 4,34,984 in maturity.
In 5-year SBI Senior Citizen FD: Maturity on Rs 6 lakh investment
The estimated interest on a Rs 6 lakh investment will be Rs 2,69,969, and the estimated maturity will be Rs 8,69,969.
In 5-year SBI Senior Citizen FD: Maturity on Rs 9 lakh investment
If a senior citizen invests Rs 9 lakh in the 5-year FD, the estimated interest will be Rs 4,04,953 and the estimated maturity amount will be Rs 13,04,953.