SBI Senior Citizen FD Latest Interest Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-year, 3-year, 5-year FDs
SBI Senior Citizen FD Latest Interest Rates: Senior citizens need some income source post retirement. So, a lot of them invest in schemes where there is a minimum risk with their investment and they can get guaranteed return. State Bank of India (SBI) also offers FDs for senior citizens. It offers its highest interest rate in the Amrit Vrishti special FD, while it also offers 1-year, 3-year, and 5-year FDs to senior citizens.
SBI Senior Citizen FD Latest Interest Rates: Senior citizens rely on their pension, income from property, government aid, or returns from their investments for their post retirement income. The reason is that they need some source of income to run their daily expenses. But it's the stage of their life where they can't take much risk with their money. So a majority of them want to invest in schemes that provide them with guaranteed returns. It helps them get a fixed income every month, which covers partial, most, or the entire part of their daily and other lifestyle expenses.
A lot of them also invest in senior citizen fixed deposit (FD) schemes. State Bank of India (SBI) also offers special FDs such as Amrit Kalash, Amrit Vrishti, Green Deposit, Sarvottam, etc., to senior citizens, while normal FDs such as 1-year, 3-year, and 5-year are also available to them.
The bank provides its highest interest rate in the 444-day Amrit Vrishti scheme at 7.75 per cent. Interest rates in its 1-year, 3-year, and 5-year FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively (Interest rate data source: Paisabazaar.com).
In this write-up, know what will be the maturity amount for senior citizens if they invest Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh, respectively, in the Amrit Vrishti, 1-year, 3-year, and 5-year FDs.
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SBI Amrit Vrishti Senior Citizen FD: Maturity amount on Rs 7 lakh investment
The estimated interest on a Rs 7 lakh investment in the Amrit Vrishti FD will be Rs 68,509.29, and the estimated maturity will be Rs 7,68,509.29.
SBI Amrit Vrishti Senior Citizen FD: Maturity amount on Rs 14 lakh investment
On a Rs 14 lakh investment, the estimated interest amount will be Rs 1,37,018.59, and the estimated maturity will be Rs 15,37,018.59.
SBI Amrit Vrishti Senior Citizen FD: Maturity amount on Rs 21 lakh investment
The estimated interest on a Rs 21 lakh investment will be Rs 2,05,527.88, and the estimated maturity amount will be Rs 23,05,527.88.
SBI Senior Citizen 1-year FD: Maturity amount on Rs 7 lakh investment
The estimated return on a Rs 7 lakh investment will be Rs 52,515.96, and the estimated maturity amount will be Rs 7,52,515.96.
SBI Senior Citizen 1-year FD: Maturity amount on Rs 14 lakh investment
On a Rs 14 lakh investment, the estimated interest will be Rs 1,05,031.92, the estimated maturity will be Rs 15,05,031.92.
SBI Senior Citizen 1-year FD: Maturity amount on Rs 21 lakh investment
On a Rs 21 lakh investment, the estimated interest will be Rs 1,57,547.88, the estimated maturity will be Rs 22,57,547.88.
SBI Senior Citizen 3-year FD: Maturity amount on Rs 7 lakh investment
The estimated interest on a Rs 7 lakh investment in the 3-year FD will be Rs 1,68,382.89, and the estimated maturity will be Rs 8,68,382.89.
SBI Senior Citizen 3-year FD: Maturity amount on Rs 14 lakh investment
The estimated interest on a Rs 14 lakh investment in the 3-year FD will be Rs 3,36,765.79, and the estimated maturity will be Rs 17,36,765.79.
SBI Senior Citizen 3-year FD: Maturity amount on Rs 21 lakh investment
On a Rs 21 lakh investment, the estimated return in the 3-year FD will be Rs 5,05,148.68, and the estimated maturity will be Rs 26,05,148.68.
SBI Senior Citizen 5-year FD: Maturity amount on Rs 7 lakh investment
The estimated interest on a Rs 7 lakh investment will be Rs 3,14,963.62, and the estimated maturity will be Rs 10,14,963.62.
SBI Senior Citizen 5-year FD: Maturity amount on Rs 14 lakh investment
On a Rs 14 lakh investment, the estimated interest will be Rs 6,29,927.24, and the estimated maturity will be Rs 20,29,927.24.
SBI Senior Citizen 5-year FD: Maturity amount on Rs 21 lakh investment
On investing Rs 21 lakh, senior citizens will get estimated Rs 9,44,890.85 in interest and estimated Rs 30,44,890.85 in maturity.