Monthly Payout Using 3-10 Year SBI Senior Citizen FD: Know your estimated returns on Rs 5 lakh, Rs 10 lakh, Rs 15 lakh investments in 3, 5, 7, 10 years
Updated SBI Senior Citizen FD Rates: Senior citizens seeking regular income from their investments invest in schemes like fixed deposit (FD). State Bank of India (SBI) runs FDs for senior citizens of different durations, such as 1, 3, 5, 7, and 10 years. They can also invest in special FDs such as Amrit Vrishti, Amrit Kalash, and Sarvottam. Senior citizens can get maturity on withdrawal or monthly, quarterly, half-yearly, or yearly.
Updated SBI Senior Citizen FD Rates: As a senior citizen, there may not be many avenues to earn a regular income. Some people may have sources such as pensions or rental income, but for many, there are not many avenues. Amid such a situation, they fall back on help from others or return from their investments. As a senior citizen, people don't want to take much risk with their money. They look for investment tools where they can get a fixed income. Fixed deposit (FD) is one such scheme. In an FD, they can invest one time and get a return on maturity. FDs also have a provision of monthly, quarterly, half-yearly, and yearly withdrawals.
As per SBI's official website, sbi.co.in, "Interest on a Term Deposit is payable to the depositor quarterly from the date of issue or at maturity along with principal. But on request from the depositor, interest may be paid at monthly, half-yearly or yearly intervals in case of Term Deposits fixed for a term of twelve months and above."
Like many banks, State Bank of India (SBI) also runs many FD schemes for senior citizens. They run 1-, 3-, 5-, 7-, and 10-year FDs and schemes of other durations. Along with them, the lender also runs the special FDs such as Amrit Kalash scheme. The bank offers its highest interest rate in the 444-day Amrit Vrishti scheme at 7.75 per cent. The interest rate for its 1- and 3-year FDs are 7.30 per cent and 7.25 per cent, respectively, while 5-, 7-, and 10-year FDs offer 7.50 per cent interest rate each.
Know what senior citizens will get as monthly payouts if they invest Rs 5 lakh, Rs 10 lakh, or Rs 15 lakh in SBI's 3-, 5-, 7- and 10-year FDs.
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SBI 3-year Senior Citizen FD: Monthly payout on Rs 5 lakh investment
The estimated monthly payout on Rs 5 lakh will be Rs 3,021.
SBI 3-year Senior Citizen FD: Monthly payout on Rs 10 lakh investment
Senior citizens will get estimated Rs 6,042 monthly interest on investing Rs 10 lakh.
SBI 3-year Senior Citizen FD: Monthly payout on Rs 15 lakh investment
On a Rs 15 lakh investment, the estimated monthly payout in the 3-year FD will be Rs 9,063.
SBI 5-year Senior Citizen FD: Monthly payout on Rs 5 lakh investment
The estimated monthly payout in the 5-year FD will be Rs 3,125.
SBI 5-year Senior Citizen FD: Monthly payout on Rs 10 lakh investment
Senior citizens will get estimated monthly payout of Rs 6,250 on investing Rs 10 lakh in the 5-year FD.
SBI 5-year Senior Citizen FD: Monthly payout on Rs 15 lakh investment
The estimated monthly payout in the 5-year FD on investing Rs 15 lakh will be Rs 9,375.
SBI 7-year Senior Citizen FD: Monthly payout on Rs 5 lakh investment
In the 7-year, the monthly payout on investing Rs 5 lakh will be Rs 3,125.
SBI 7-year Senior Citizen FD: Monthly payout on Rs 10 lakh investment
Senior citizens will get estimated Rs 6,250 a month on investing Rs 10 lakh in the 7-year FD.
SBI 7-year Senior Citizen FD: Monthly payout on Rs 15 lakh investment
The estimated monthly payout on Rs 15 lakh investment will be Rs 9,375.
SBI 10-year Senior Citizen FD: Monthly payout on Rs 5 lakh investment
The estimated monthly payout in the 10-year FD will be Rs 3,125.
SBI 10-year Senior Citizen FD: Monthly payout on Rs 10 lakh investment
Senior citizens will get estimated monthly payout of Rs 6,250 if they invest Rs 10 lakh in the 10-year FD.
SBI 10-year Senior Citizen FD: Monthly payout on Rs 15 lakh investment
A Rs 15 lakh investment in the 10-year FD will give estimated monthly payout of Rs 9,375.