gold10 min ago
Top PSU Banks latest FD rates for Senior citizens: SBI, BOB, and More; know maturity amount on Rs 6 lakh investment in 3 Years
- Written by Anamika Singh
Published: 5:46 PM, Dec 8, 2024
|Updated: 5:55 PM, Dec 8, 2024
Fixed Deposits (FDs) are one of the safest and most preferred investment options for senior citizens. A 3-year FD can help senior citizens grow a potential amount to help them enjoy financial freedom. Therefore, in this article, we will explore the latest FD rates offered by SBI, BOB, PNB, and Union Bank of India. We will also find out the maturity amount on Rs 6 lakh investments in a 3-year FD scheme.
Photos source: Pixabay/Representational
(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
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What is fixed deposit?
A Fixed Deposit (FD) is a popular scheme offered by banks and non-banking financial companies that allows individuals to invest a lump sum amount for a fixed tenure at a predetermined interest rate. For senior citizens, banks offer higher interest rates compared to regular customers. These rates can help senior citizens grow their savings safely while enjoying higher interest rates compared to regular depositors.
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SBI 3-year senior citizen FD interest rate
The interest rate is 7.25 per cent.
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BOB 3-year senior citizen FD interest rate
Bank of Baroda is offering a 7.65 per cent interest rate to senior citizens in 3-year FD.
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PNB 3-year senior citizen FD interest rate
The interest rate is 7.50 per cent.
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Union Bank of India 3-year senior citizen FD interest rate
Union Bank of India is offering a 7.20 per cent interest rate to senior citizens in 3-year FD.
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SBI 3-year FD: Maturity amount for senior citizen on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,44,328, and estimated returns will be Rs 1,44,328 on the investment of Rs 6 lakh in a 3-year fixed deposit for senior citizens.
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BOB 3-year FD: Maturity amount for senior citizen on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,53,149, and estimated returns will be Rs 1,53,149.
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PNB 3-year FD: Maturity amount for senior citizen on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,49,830, and estimated returns will be Rs 1,49,830.
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Union Bank of India 3-year FD: Maturity amount for senior citizen on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,43,232, and estimated returns will be Rs 1,43,232.
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Which PSU Bank gave highest maturity amount on Rs 6 lakh investment?
SBI 3-year FD: Rs 7,44,328 BOB 3-year FD: Rs 7,53,149 PNB 3-year FD: Rs 7,49,830 Union Bank of India 3-year FD: Rs 7,43,232
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