SBI Senior Citizen 5-year FD vs SBI General Citizen 5-year FD: Here's what general and senior citizens will get on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments
SBI General vs Senior Citizen 5-year FD Calculator: State Bank of India (SBI) runs many fixed deposit (FD) schemes for general and senior citizens. Investment in the 5-year FD helps both of them get tax benefits under Section 80C of the Income Tax Act, 1961.
SBI General vs Senior Citizen 5-year FD Calculator: Fixed deposit (FD) is a popular investment tool among a large section of investors in India. Investors with a low-risk appetite and seeking guaranteed returns from their investments opt for non-market-linked options such as FDs. Many senior citizens use the FD as part of their retirement planning, where they can invest one time and get returns in the form of interest. Money from FDs can be withdrawn on maturity, but investors can also opt for monthly, quarterly, half-yearly, or yearly withdrawals. Investments in 5-year FDs provide tax benefits under Section 80C of the Income Tax Act, 1961.
Like many leading banks, State Bank of India (SBI) also offers FDs to general and senior citizens. It offers 1-year, 3-year, and 5-year schemes for either of them. In this write-up, know the interest rates that SBI is offering to general and senior citizens in its 3 FDs. Also know what Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments in the 5-year FD will give them in return.
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SBI 1-year FD interest rates for general citizens
The country's top lender offers a 6.80 per cent interest rate to general citizens in its 1-year FD.
SBI 1-year FD interest rates for senior citizens
Senior citizens get 7.30 per cent interest rate in the same FD.
SBI 3-year FD interest rates for general citizens
The interest rate for general citizens in its 3-year FD is 6.75 per cent.
SBI 3-year FD interest rates for senior citizens
Senior citizens get 7.25 per cent interest in the 3-year fixed deposit scheme.
SBI 5-year FD interest rates for general citizens
The interest rate for general citizens in the 5-year FD is 6.50 per cent.
SBI 5-year FD interest rates for senior citizens
Senior citizens enjoys the highest interest rate among all traditional FDs of SBI at 7.50 per cent.
SBI 5-year FD: Returns on Rs 3 lakh investment for general citizens
On a Rs 3 lakh investment, general citizens will get estimated interest of Rs 1,14,126, and the estimated maturity of Rs 4,14,126 in the 5-year FD.
SBI 5-year FD: Returns on Rs 3 lakh investment for senior citizens
The estimated interest amount on a Rs 3 lakh investment for senior citizens will be Rs 1,34,984, and the estimated maturity will be Rs 4,34,984.
SBI 5-year FD: Returns on Rs 6 lakh investment for general citizens
The estimated interest for general citizens in the 5-year FD will be Rs 2,28,252, and the estimated maturity will be Rs 8,28,252.
SBI 5-year FD: Returns on Rs 6 lakh investment for senior citizens
Senior citizens will get estimated return of Rs 2,69,969, and the estimated maturity of Rs 8,69,969 if they invest Rs 6 lakh in the 5-year FD.
SBI 5-year FD: Returns on Rs 9 lakh investment for general citizens
General citizens will get estimated return of Rs 3,42,378, and the estimated maturity of Rs 12,42,378 on investing Rs 9 lakh.
SBI 5-year FD: Returns on Rs 9 lakh investment for senior citizens
The estimated interest senior citizens will get on a Rs 9 lakh investment in a 5-year FD will be Rs 4,04,953, and the estimated maturity will be Rs 13,04,953.