SBI vs PNB vs Central Bank: 1-year FD; What will be the maturity amount on Rs 7 lakh investment for general and senior citizens
Compare 1 year fixed deposit (FD) of State Bank of India (SBI), Punjab National Bank (PNB), and Central Bank to find out what will be the maturity amount on Rs 7 lakh investment for general and senior citizens.
Fixed deposits (FDs) are a popular investment scheme for investors seeking guaranteed returns from their investments. Both general and senior citizens invest in FDs ranging from 7 days to 10 years. A 1-year FD provides liquidity in the short term, allowing the investor to get the maturity amount in a year. Therefore, here we will explore 1-year FD interest rates for SBI, PNB, and Central Bank to find out what the maturity amount for general and senior citizens on Rs 7 lakh investment.
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(Disclaimer: Our calculations are projections and not investment advice. Do your own due diligence or consult an expert for financial planning)
What is FD?
Fixed deposit is an investment scheme where investors invest a lump sum in a bank or non-banking financial company for a fixed tenure at an agreed rate of interest. In return, you earn interest on the amount you deposit at a fixed rate.
SBI 1-year general citizen FD interest rate
The interest rate is 6.80 per cent for general citizens.
SBI 1-year senior citizen FD interest rate
The interest rate is 7.30 per cent for senior citizens.
PNB 1-year general citizen fixed deposit rate
The bank offers a 6.80 per cent interest rate to general citizens in its 1-year FD.
PNB 1-year senior citizen FD interest rate
Punjab National Bank is offering a 7.30 per cent interest rate to senior citizens in 1-year FD.
Central Bank 1-year general citizen FD interest rate
The interest rate is 6.85 per cent for general citizens.
Central Bank 1-year senior citizen FD interest rate
The interest rate is 7.35 per cent for senior citizens.
SBI 1-year FD: Maturity amount for general citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,48,828 in a 1-year fixed deposit for general citizens with 6.8 per cent interest rate. The estimated return will be Rs 48,828.
SBI 1-year FD: Maturity amount for senior citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,52,516 and the estimated return will be Rs 52,516.
PNB 1-year FD: Maturity amount for general citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,48,828 and the estimated return will be Rs 48,828.
PNB 1-year FD: Maturity amount for senior citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,52,516 and the estimated return will be Rs 52,516.
Central Bank 1-year FD: Maturity amount for general citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,49,196 and the estimated return will be Rs 49,196.
Central Bank 1-year FD: Maturity amount for senior citizens on Rs 7 lakh investment
The estimated maturity amount will be Rs 7,52,886 and the estimated return will be Rs 52,886.