SBI Senior Citizen FD Calculator: How much will you get if you invest Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, or Rs 20 lakh in 1-, 3-, and 5-year fixed deposit schemes
SBI Senior Citizen Latest FD Interest Rates: State Bank of India (SBI) is offering the highest interest rate to senior citizens in its Amrit Vrishti Scheme, which is a 444-day special FD. The lender also offers 1-year, 3-year, and 5-year FDs to senior citizens.
SBI Senior Citizen Latest FD Interest Rates: Retirement investment is a stage where many senior citizens don't want to take risks with their money. The reason is that it is highly likely that, in lack of other income resources, their future expenses are based on this investment, and any risk with money can derail their retirement journey. So, a lot of them invest in fixed income, guaranteed return schemes. That's the reason why a lot of them opt for fixed deposit schemes (FDs). FD investment provides them income in the form of interest that they can get as per their convenience, monthly, quarterly, half-yearly, yearly, or on maturity. State Bank of India (SBI) also has many FDs for senior citizens, where it offers higher interest rates than it offers to general. citizens. SBI is offering its best interest rate to senior citizens in the Amrit Vrishti scheme. The interest rate in the 444-day special FD is 7.75 per cent. Interest rates in the 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, we will tell you about the estimated returns on Rs 5 lakh, Rs 10 lakh, Rs 15 lakh, and Rs 20 lakh investments in SBI Senior Citizen FD schemes of 1, 3, and 5 years.
Photos: Unsplash/Pixabay
In 1-year SBI Senior Citizen FD
The interest rate in the 1-year SBI FD is 7.30 per cent, so an investment of Rs 5,00,000 will help a senior citizen get an estimated interest of Rs 37,511 and an estimated maturity of Rs 5,37,511.
In 1-year SBI Senior Citizen FD
If a senior citizen invests Rs 10,00,000 in the FD, they will get an estimated return of Rs 75,023 and an estimated maturity of Rs 10,75,023.
In 1-year SBI Senior Citizen FD
A Rs 15,00,000 investment in the senior citizens FD will help an investor get estimated interest of Rs 1,12,534 and the estimated maturity amount of Rs 16,12,534.
In 1-year SBI Senior Citizen FD
On investing Rs 20,00,000 in the fixed deposit scheme, an investor will get estimated interest of Rs 1,50,046 and the estimated maturity amount of Rs 21,50,046.
In 3-year SBI Senior Citizen FD
Since the 3-year SBI Senior Citizen FD provides a 7.25 per cent interest rate, on a Rs 5,00,000 investment, an investor will get estimated interest of Rs 1,20,273 and estimated maturity of Rs 6,20,273.
In 3-year SBI Senior Citizen FD
On investing Rs 10,00,000 in the 3-year SBI FD, a senior citizen will get estimated interest of Rs 2,40,547 and estimated maturity of Rs 12,40,547.
In 3-year SBI Senior Citizen FD
If a senior citizen invests Rs 15,00,000 in the 3-year FD, they will get estimated interest of Rs 3,60,820 and estimated maturity of Rs 18,60,820.
In 3-year SBI Senior Citizen FD
A senior citizen with Rs 20,00,000 investment in the 3-year FD can get an estimated return of Rs 4,81,094 and an estimated maturity of Rs 24,81,094.
In 5-year SBI Senior Citizen FD
The 5-year SBI Senior Citizen FD provides 7.50 per cent interest, so a Rs 5,00,000 investment in it will help a senior citizen garner an estimated return of Rs 2,24,974 and an estimated maturity amount of Rs 7,24,974.
In 5-year SBI Senior Citizen FD
On a Rs 10,00,000 investment in the guaranteed return scheme, a senior citizen will get an estimated return of Rs 4,49,948 and an estimated maturity of Rs 14,49,948.
In 5-year SBI Senior Citizen FD
A Rs 15,00,000 in the 5-year SBI Senior Citizen FD, the estimated return will be Rs 6,74,922, while the estimated maturity amount will be Rs 21,74,922.
In 5-year SBI Senior Citizen FD
A senior citizen with Rs 20,00,000 investment in the FD will get an estimated interest amount of Rs 8,99,896 and an estimated maturity amount of Rs 28,99,896.