Latest SBI Senior Citizens FD Interest Rates: What will you get on maturity if you invest Rs 9,89,898, Rs 8,78,787, and Rs 6,56,565 in Amrit Vrishti, 1-, 3-, and 5-year FDs?
Latest SBI Senior Citizens FD Rates: A lot of senior citizens seeking a regular income in their retirement life invest in fixed deposit (FD) schemes. They can get the interest amount on maturity or monthly, quarterly, half-yearly, and yearly. State Bank of India (SBI) also offers various FDs to senior citizens of different interest rates and durations.
Latest SBI Senior Citizens FD Rates: Senior citizens seeking regular income post retirement can invest in market-linked or non-market-linked investment tools. A lot of them want to take a minimum risk with their finances, so they invest in non-market-linked schemes such as fixed deposit (FD). FD is a guaranteed return scheme where investors can invest a lump sum amount in the beginning and get interest in the form of maturity. The majority of banks provide the facility of withdrawing interest monthly, quarterly, half-yearly, or yearly. It gives senior citizens a fixed income, ensuring that they have money to spend in their retirement life. Like many other banks, State Bank of India (SBI) also offers regular and special FDs for senior citizens. Among regular FDs, popular durations among senior citizens are 1, 3, 5, 7, and 10 years. On the other hand, SBI's special FDs are Amrit Kalash, Amrit Vrishti, Green Rupee Term Deposit, Sarvottam, etc. The country's top lender offers a higher interest rate to senior citizens compared to what it offers to general citizens. SBI offers its highest interest rate to senior citizens in the Amrit Vrishti special FD. The 444-day special FD offers a 7.75 per cent interest rate to them. Interest rates in the 1-, 3-, 5-, 7-, and 10-year FDs are 7.30 per cent, 7.25 per cent, 7.50 per cent, 7.50 per cent, and 7.50 per cent, respectively (Source: Paisabazaar.com). In this write-up, know how much interest and maturity amounts senior citizens will get on investments of Rs 9,89,898, Rs 8,78,787, and Rs 6,56,565 in the Amrit Vrishti, 1-, 3-, and 5-year FDs.
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SBI Senior Citizen Amrit Vrishti FD: Return on Rs 9,89,898 investment
The estimated interest on this investment will be Rs 96,881.73, and the estimated maturity will be Rs 10,86,779.73.
SBI Senior Citizen Amrit Vrishti FD: Return on Rs 8,78,787 investment
Senior citizens will get an estimated interest amount of Rs 86,007.25 and an estimated corpus of Rs 9,64,794.25.
SBI Senior Citizen Amrit Vrishti FD: Return on Rs 6,56,565 investment
The estimated interest on this investment will be Rs 64,258.29, while the estimated maturity will be Rs 7,20,823.29.
SBI Senior Citizen 1-year FD: Return on Rs 9,89,898 investment
The estimated interest will be Rs 74,265, while the estimated maturity amount will be Rs 10,64,163.
SBI Senior Citizen 1-year FD: Return on Rs 8,78,787 investment
The estimated interest will be Rs 65,929, and the estimated maturity will be Rs 9,44,716.
SBI Senior Citizen 1-year FD: Return on Rs 6,56,565 investment
Senior citizens will get an estimated return of Rs 49,257, and the estimated maturity of Rs 7,05,822.
SBI Senior Citizen 3-year FD: Return on Rs 9,89,898 investment
The estimated interest on this investment will be Rs 2,38,117, while the estimated maturity amount will be Rs 12,28,015.
SBI Senior Citizen 3-year FD: Return on Rs 8,78,787 investment
Senior citizens will get an estimated interest of Rs 2,11,390 and an estimated maturity of Rs 10,90,177.
SBI Senior Citizen 3-year FD: Return on Rs 6,56,565 investment
The estimated interest on this investment will be Rs 1,57,935, and the estimated maturity will be Rs 8,14,500.
SBI Senior Citizen 5-year FD: Return on Rs 9,89,898 investment
The estimated interest amount that senior citizens will get will be Rs 4,45,403, and the estimated maturity will be Rs 14,35,301.
SBI Senior Citizen 5-year FD: Return on Rs 8,78,787 investment
If they invest Rs 8,78,787, the estimated return that they will get will be Rs 3,95,408, while the estimated maturity will be Rs 12,74,195.
SBI Senior Citizen 5-year FD: Return on Rs 6,56,565 investment
The estimated interest amount will be Rs 2,95,420, while the estimated maturity will be Rs 9,51,985.