SBI Senior Citizen FD vs SBI Senior Citizen RD: Which guaranteed return scheme can provide higher maturity on Rs 9 lakh investment for 3 years; know here

SBI Senior Citizen FD vs SBI Senior Citizen RD Calculator: Investors make one-time investment in a fixed deposit (FD) scheme, while in a recurring deposit (RD) scheme, the investment is done on a monthly basis. Both schemes are non-market-linked and provide guaranteed return. 

Shaghil Bilali | Sep 28, 2024, 04:34 PM IST

SBI Senior Citizen FD vs SBI Senior Citizen RD: Fixed deposit (FD) and recurring deposit (RD) are two guaranteed return investment schemes with different styles of investment. In an FD, investors make a lump sum investment and get return in the form of interest. In RD, the investment is monthly, and investors get the maturity amount on the competition of the scheme. Senior citizens with a low-risk appetite and the requirement of monthly income post-retirement opt for FD and RD. State Bank of India (SBI) like many other banks, offers FD and RD. In this write-up, know more about SBI Senior Citizen 3-year FD and 3-year RD and which of the two will give higher returns on Rs 9 lakh investment.    
Photos: Unsplash/Pixabay

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SBI Senior Citizen 3-year FD interest rate

SBI Senior Citizen 3-year FD interest rate

SBI offers a 7.30 per cent interest rate to senior citizens in the 3-year FD scheme. (Data Source: Paisabazaar.com)

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SBI Senior Citizen 3-year RD interest rate

SBI Senior Citizen 3-year RD interest rate

The interest rate for SBI 3-year RD is 7.30 per cent. (Data Source: Paisabazaar.com)

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Investment amount in SBI Senior Citizen FD

Investment amount in SBI Senior Citizen FD

The investment amount in SBI Senior Citizen FD will be Rs 9 lakh.

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Investment amount in SBI Senior Citizen RD

Investment amount in SBI Senior Citizen RD

We will take Rs 9 lakh as the amount to invest in monthly instalments for 3 years. 

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Investment amount in SBI Senior Citizen RD

Investment amount in SBI Senior Citizen RD

So, the monthly investment in the SBI RD will be Rs 25,000. 

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Interest amount in 3-year SBI Senior Citizen FD

Interest amount in 3-year SBI Senior Citizen FD

The estimated interest a senior citizen will get in 3 years will be Rs 2,18,138.

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Maturity amount in 3-year SBI Senior Citizen FD

Maturity amount in 3-year SBI Senior Citizen FD

The estimated interest a senior citizen will get in 3 years will be Rs 11,18,138.

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Interest amount in 3-year SBI Senior Citizen RD

Interest amount in 3-year SBI Senior Citizen RD

The estimated interest a senior citizen will get in 3 years will be Rs 1,08,159.

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Maturity amount in 3-year SBI Senior Citizen RD

Maturity amount in 3-year SBI Senior Citizen RD

The estimated interest a senior citizen will get in 3 years will be Rs 10,08,159.

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How much extra will one get in SBI Senior Citizen FD

How much extra will one get in SBI Senior Citizen FD

The extra amount one will earn in SBI Senior Citizen FD will be Rs 1,09,979.
However, this is because of the lump sum investment made in the beginning.

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