Latest SBI Senior Citizen FD Rates: Rs 6 lakh, Rs 11 lakh, Rs 21 lakh one-time investments to deliver these estimated returns in 1-5 years; see examples with calculations
SBI Senior Citizen Fixed Deposit Interest Rates 2024: State Bank of India (SBI) runs many fixed deposit (FD) schemes for senior citizens. They can invest in special FDs such as Amrit Kalash, Amrit Vrishti, and Green Deposits, as well as in the 1-year, 3-year, and 5-year FDs. Investments in the 5-year FD also provides tax benefits under Section 80C of the Income Tax Act, 1961.
SBI Senior Citizen Fixed Deposit (FD) Interest Rates 2024, guaranteed return scheme: Senior citizens need income source to meet their expenses in retirement life. As far as investment options are concerned, they prefer guaranteed return schemes where their money is comparatively safer than market-linked schemes, where they get a regular income. That's the reason, a lot of them prefer investing in fixed deposit schemes, where they get returns in the form of interest. They can get it on maturity, or on a monthly, quarter, half-yearly, or annual basis.
State Bank of India (SBI) also runs many FD schemes. The country's largest lender runs special FDs such as Amrit Kalash, Amrit Vrishti, and Green Deposits, as well as in the 1-year, 3-year, and 5-year schemes for senior citizens. The bank is offering its best interest rate to senior citizens in the Amrit Vrishti scheme. It's a special scheme that offers 7.75 per cent interest rate. Interest rates in the 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 what will you get on investments of Rs 6 lakh, Rs 11 lakh, Rs 16 lakh, and Rs 21 lakh in SBI Senior Citizen FD schemes of 1, 3, and 5 years.
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