SBI Patrons FD Scheme For Super Senior Citizens: What will be maturity amount on 10 lakh investment for 5 years
Super senior citizens i.e. resident individuals attaining the age of 80 years or more can now benefit from fixed deposits with higher interest rates. State Bank of India has recently launched a new variant of Term Deposit “SBI Patrons” for Super Senior Citizens. Under ‘SBI Patrons’ scheme, super senior citizens will be offered higher interest rates.
State Bank of India has introduced a new fixed deposit scheme called SBI Patrons for super senior citizens. Under "SBI Patrons FD scheme", super senior citizens can receive a higher interest rate than senior citizens on fixed deposit investments. Resident individuals aged 80 years and above qualify as super senior citizens under Section 194P of the Income Tax Act, 1961. Let’s find out how much you will get on investment of 10 lakh investment for 5 years.
Photos source: Pixabay/Pexels/Representational
(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)