SBI Senior Citizen FD Rates: Here is what PSU bank is giving on Rs 2 lakh, 4 lakh, 6 lakh and 8 lakh investments in fixed deposit schemes
On an investment of Rs 2 lakh, senior citizens can get Rs 2,19,859 on maturity. They can get Rs 4,39,718, Rs 6,59,577, and Rs 8,79,436 on Rs 4 lakh, Rs 6 lakh, and Rs 8 lakh investments respectively.
The SBI senior citizen FD (fixed deposit) scheme is offered to Indian residents over 60 years of age. FD investments are very low-risk and provide a fixed interest rate. Senior citizens get higher interest rates on FDs than general citizens. FDs have different tenures ranging from seven days to 10 years.
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SBI Amrit Vrishti Scheme
In the SBI Amrit Vrishti scheme, senior citizens get a 7.75 per cent interest rate. The tenure of this scheme is 444 days.
Maturity amount on Rs 2 lakh, 4 lakh, 6, lakh, and 8 lakh investments
On an investment of Rs 2 lakh, senior citizens can get Rs 2,19,859 on maturity. They can get Rs 4,39,718, Rs 6,59,577, and Rs 8,79,436 on Rs 4 lakh, Rs 6 lakh, and Rs 8 lakh investments respectively.
SBI nomination facility
SBI offers a nomination feature, allowing depositors to nominate family members or spouses to collect the maturity money.
Loan against FD
SBI also provides a loan facility against FD.
SBI 1-year FD scheme
On 1-year FD schemes, SBI gives 7.30 per cent interest rates to senior citizens.
Maturity amount on Rs 2 lakh, 4 lakh, 6, lakh, and 8 lakh investments in 1 year
On an investment of Rs 2 lakh, senior citizens can get Rs 2,15,005 on maturity. They can get Rs 4,30,009, Rs 6,45,014, and Rs 8,60,018 on Rs 4 lakh, Rs 6 lakh, and Rs 8 lakh investments respectively.
SBI 3-year FD scheme
On 3-year FD schemes, SBI gives 7.25 per cent interest rates to senior citizens.
Maturity amount on Rs 2 lakh, 4 lakh, 6, lakh, and 8 lakh investments in 1 year
On an investment of Rs 2 lakh, senior citizens can get Rs 2,48,109 on maturity. They can get Rs 4,96,219, Rs 7,44,328, and Rs 9,92,438 on Rs 4 lakh, Rs 6 lakh, and Rs 8 lakh investments respectively.
SBI 5-year FD scheme
On 5-year FD schemes, SBI gives 7.50 per cent interest rates to senior citizens.
Maturity amount on Rs 2 lakh, 4 lakh, 6, lakh, and 8 lakh investments in 1 year
On an investment of Rs 2 lakh, senior citizens can get Rs 2,89,990 on maturity. They can get Rs 5,79,979, Rs 8,69,969, and Rs 11,59,958 on Rs 4 lakh, Rs 6 lakh, and Rs 8 lakh investments respectively.