SBI Senior Citizen FD Latest Interest Rates: Know what Rs 4 lakh, Rs 8 lakh, Rs 12 lakh, and Rs 16 lakh investments can give on maturity in different FDs
SBI Senior Citizen FD Interest Rates: SBI runs the Amrit Kalash, 1-year, 3-year, and 5-year FD schemes for senior citizens. The 444-day Amrit Kalash, which is a special scheme for limited time, provides the highest interest rate at 7.75%. The 5-year FD also provides up to Rs 1.50 lakh tax benefits under Section 80C of the Income Tax Act, 1961.
SBI Senior Citizen FD Interest Rates: When one attains the age of 60, their income sources may deplete, but their expenses remain the same. So they need some source of regular income in that stage of life. As a result, many senior citizens invest in guaranteed income schemes, which provide them with regular monthly, quarterly, half-yearly, or yearly income. So, a lot of them invest in fixed deposit (FD) schemes. Banks and small banks offer extra interest rates to senior citizens. Like many banks, State Bank of India (SBI) also offers extra interest rates to senior citizens in its FD schemes. SBI runs the Amrit Kalash, 1-year, 3-year, and 5-year FD schemes for senior citizens. Amrit Kalash offers the highest interest rate among all SBI FDs at 7.75 per cent. The interest rates for 1-, 3-, and 5-year SBI senior citizen FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively (Data as per Paisabazaar.com).
In this write-up, know what you will get in maturity amount after investing Rs 4 lakh, Rs 8 lakh, Rs 12 lakh, and Rs 16 lakh in SBI senior citizen FD schemes of 1 year, 3 years, and 5 years, respectively.
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In 1-year SBI Senior Citizen FD
At an interest rate of 7.30 per cent, a Rs 4 lakh investment in the 1-year FD will give an estimated interest of Rs 30,009 and the maturity amount of Rs 4,30,009.
In 1-year SBI Senior Citizen FD
If one invests Rs 8 lakh in it, they will get an estimated interest of Rs 60,018 and the maturity of Rs 8,60,018.
In 1-year SBI Senior Citizen FD
A Rs 12 lakh investment in the 1-year FD means estimated Rs 90,027 in interest and Rs 12,90,027 in maturity.
In 1-year SBI Senior Citizen FD
A Rs 16 lakh in the 1-year FD is estimated to provide Rs 1,20,036 in interest and Rs 17,20,036 in maturity.
In 3-year SBI Senior Citizen FD
If one makes an investment of Rs 4 lakh in the 3-year FD, they will get estimated Rs 96,219 in interest and Rs 4,96,219 in maturity.
In 3-year SBI Senior Citizen FD
After investing Rs 8 lakh in the 3-year FD, the estimated interest will be Rs 1,92,438, and the maturity will be Rs 9,92,438.
In 3-year SBI Senior Citizen FD
On a Rs 12 lakh investment in the 3-year FD, the estimated interest will be Rs 2,88,656 and maturity will be Rs 14,88,656.
In 3-year SBI Senior Citizen FD
After an investment of Rs 16 lakh in the 3-year FD, the investor will get estimated Rs 3,84,875 in interest and Rs 19,84,875 in maturity.
In 5-year SBI Senior Citizen FD
On a Rs 4 lakh investment in the 5-year FD, one will get estimated Rs 1,79,979 in interest and Rs 5,79,979 in maturity.
In 5-year SBI Senior Citizen FD
If one invests Rs 8 lakh in the 5-year FD, their estimated interest will be Rs 3,59,958 and the maturity amount will be Rs 11,59,958.
In 5-year SBI Senior Citizen FD
An investor with a Rs 12 lakh investment in the 5-year FD will get an estimated Rs 5,39,938 interest and Rs 17,39,938 maturity.
In 5-year SBI Senior Citizen FD
If one starts with a Rs 16 lakh investment in the 5-year FD, their estimated return will be Rs 7,19,917 and the maturity will be Rs 23,19,917.