SBI vs Canara Bank vs Bank of Baroda: 3-year FD; What will be the maturity amount on Rs 9 lakh investment for general and senior citizens
FD stands for fixed deposit and it is a type of investment tool where an individual deposits a sum into a bank or non-bank financial institution for a set period. Even though FDs are a traditional way of investment, one can receive a higher interest rate than a regular savings account. Therefore, here we will explore 3-year FD rates of State Bank of India (SBI), Canara Bank, and Bank of Baroda to check the maturity amount on Rs 9 lakh investment for both general and senior citizens.
A fixed deposit (FD) is a popular fixed return investment option for general and senior citizens. FDs can have various types of tenure, from as short as 7 days to as long as 10 years. The interest you receive on FD depends on the amount you invest and the length of the deposit. Depositors can choose to receive their interest payments monthly, quarterly, half-yearly, or yearly, or on maturity of the FD.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
SBI 3-year general citizen FD interest rate
The interest rate is 6.75 per cent for general citizens.
SBI 3-year FD: Maturity amount for general citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,00,154 in a 3-year fixed deposit for general citizens. The estimated return will be Rs 2,00,154.
SBI 3-year senior citizen FD interest rate
The interest rate is 7.25 per cent for senior citizens.
SBI 3-year FD: Maturity amount for senior citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,16,492 in a 3-year fixed deposit for senior citizens. The estimated return will be Rs 2,16,492.
Canara Bank 3-year general citizen FD interest rate
The interest rate is 6.80 per cent for general citizens.
Canara Bank 3-year FD: Maturity amount for general citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,01,778 in a 3-year fixed deposit for general citizens. The estimated return will be Rs 2,01,778.
Canara Bank 3-year senior citizen FD interest rate
The interest rate is 7.30 per cent for senior citizens.
Canara Bank 3-year FD: Maturity amount for senior citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,18,138 in a 3-year fixed deposit for senior citizens. The estimated return will be Rs 2,18,138.
Bank of Baroda 3-year general citizen FD interest rate
The interest rate is 7.15 per cent for general citizens.
Bank of Baroda 3-year FD: Maturity amount for general citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,13,207 in a 3-year fixed deposit for general citizens. The estimated return will be Rs 2,13,207.
Bank of Baroda 3-year senior citizen FD interest rate
The interest rate is 7.65 per cent for senior citizens.
Bank of Baroda 3-year FD: Maturity amount for senior citizens on Rs 9 lakh investment
The estimated maturity amount will be Rs 11,29,723 in a 3-year fixed deposit for senior citizens. The estimated return will be Rs 2,29,723.