SBI Senior Citizen FD Rates: What Rs 1 lakh, Rs 3 lakh, and 5 lakh investments will give you in 1-, 3- and 5-year FDs
When you become a senior citizen and cross the age of 60, there are chances that your sources of income are depleted. At that time, you will rely on monetary help from someone in the family, returns from investments you have made throughout life, or investments you will make at the current stage. For those who have resources and seek financial freedom post-retirement in their lives, it is necessary that they make wise financial decisions and invest in schemes that provide them with a regular source of income. This is the reason a lot of senior citizens opt for fixed deposit (FD) schemes. FDs provide them with a with a guaranteed return and regular income in the form of interest that they can use to cover their monthly expenses. The country's leading bank, State Bank of India (SBI) also offers FDs to senior citizens. The popular senior citizen SBI FDs are for one year, three years, and five years. The interest rates of SBI senior citizen FDs are 7.30% for one-year FDs, 7.25 per for three-year FDs, and 7.50 per cent for the five-year FDs (As per Paisabazaar.com data). In this gallery, we will tell you how much you can get in return on all these three FDs if you invest Rs 1 lakh, Rs 3 lakh, and Rs 5 lakh in each of the schemes.
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SBI Senior Citizen FD - 1-year
On Rs 1 lakh investment
Since the FD offers a 7.30% interest rate in the 1-year FD, on an investment of Rs 1 lakh, the interest will be Rs 7,502 and the maturity amount will be Rs 1,07,502.
SBI Senior Citizen FD - 1-year
On Rs 3 lakh investment
Investing Rs 3 lakh will give you Rs 22,507 in interest and Rs 3,22,507 in maturity.
SBI Senior Citizen FD - 1-year
On Rs 5 lakh investment
An investment of Rs 5 lakh will provide you with Rs 37,511 in interest and Rs 5,37,511 in maturity.
SBI Senior Citizen FD - 3-year
On Rs 1 lakh investment
The 3-year FD provides 7.25% interest, so on a Rs 1 lakh investment, you can get Rs 24,055 in interest and Rs 1,24,055 in maturity.
SBI Senior Citizen FD - 3-year
On Rs 3 lakh investment
A Rs 3 lakh investment will help you get Rs 72,164 in interest and Rs 3,72,164 in maturity.
SBI Senior Citizen FD - 3-year
On Rs 5 lakh investment
Your interest will be Rs 1,20,273, while the maturity amount will be Rs 6,20,273.
SBI Senior Citizen FD - 5-year
On Rs 1 lakh investment
The interest rate in the 5-year FD is 7.50%, on a Rs 1 lakh investment, the interest will be Rs 44,995 and the maturity amount will be Rs 1,44,995.
SBI Senior Citizen FD - 5-year
On Rs 3 lakh investment
If you invest Rs 3 lakh in the 5-year FD, you will get an interest of Rs 1,34,984, and your maturity amount will be Rs 4,34,984.
SBI Senior Citizen FD - 5-year
On Rs 5 lakh investment
A Rs 5 lakh investment in the 5-year scheme will give you Rs 2,24,974 in interest and Rs 7,24,974 in maturity.