Latest SBI Senior Citizen FD Rates: How much senior citizens can get on investments of Rs 5,55,555, Rs 7,77,777, and Rs 9,99,999 in Amrit Vrishti, 1-, 3-, and 5-year FDs
SBI Senior Citizen FD Rate: Senior citizens seeking a fixed, regular income from their investments invest in fixed deposit (FD) schemes. They can get a return on maturity on a monthly, quarterly, half-yearly, or yearly basis. State Bank of India offers FDs ranging from 7 days to 10 years. Senior citizens can also invest in special FDs.
SBI Senior Citizen FD Interest Rates: When we are young, our expenses are high since we have family responsibilities, financial goals, and personal expenses. When we retire, these expenses may reduce or may be replaced by other expenses, but in any case, we need a regular source of income as senior citizens too. In the retirement age, one can't take much risk with their investment since it may interrupt their flow of a regular income. So, a lot of senior citizens prefer investing in non-market-linked options, where they can get a fixed income. Fixed deposit (FD) is one such investment tool where they can invest one time and get a return in the form of interest. The thumb rule is that you get the return on the maturity of the FD, but investors can also request the bank or the small bank to give them payouts on a monthly, quarterly, half-yearly, or annual basis.
Like many other banks, State Bank of India (SBI) also offers regular FDs and special FDs for senior citizens. Among regular FDs, the popular durations are 1, 3, 5, and 7, 10 years. Among special FDs, some of the popular SBI schemes are Amrit Kalash, Amrit Vrishti, Green Rupee Term Deposit, and Sarvottam.
SBI offers its highest interest rate to senior citizens in the Amrit Vrishti Scheme. The 444-day special FD offers a 7.75 per cent interest rate to senior citizens, while the rates in the 1-, 3-, and 5-year FDs are 7.30 per cent, 7.25 per cent, and 7.50 per cent, respectively (Source: Paisabazaar.com).
In this write-up, know how much interest senior citizens will get on investments of Rs 5,55,555, Rs 7,77,777, and Rs 9,99,999 in Amrit Vrishti, 1-, 3-, and 5-year FDs.
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SBI Senior Citizen Amrit Vrishti FD: Return on Rs 5,55,555 investment
The estimated interest on this investment will be Rs 54,372.40, and the estimated maturity will be Rs 6,09,927.40.
SBI Senior Citizen Amrit Vrishti FD: Return on Rs 7,77,777 investment
The estimated interest will be Rs 76,121.36 and the estimated maturity will be Rs 8,53,898.36.
SBI Senior Citizen Amrit Vrishti FD: Return on Rs 9,99,999 investment
Senior citizens will get estimated Rs 97,870.32 in interest and estimated Rs 10,97,869.32 in maturity.
SBI Senior Citizen 1-year FD: Return on Rs 5,55,555 investment
The estimated interest on this investment will be Rs 41,679, and the estimated maturity will be Rs 5,97,234.
SBI Senior Citizen 1-year FD: Return on Rs 7,77,777 investment
On investing Rs 7,77,777, senior citizens will get an estimated return of Rs 58,351, and an estimated maturity of Rs 8,36,128
SBI Senior Citizen 1-year FD: Return on Rs 9,99,999 investment
The estimated interest on investing Rs 9,99,999 will be Rs 75,023, and the estimated maturity amount will be Rs 10,75,022.
SBI Senior Citizen 3-year FD: Return on Rs 5,55,555 investment
The estimated interest that investors will get will be Rs 1,33,637, while the estimated maturity will be Rs 6,89,192.
SBI Senior Citizen 3-year FD: Return on Rs 7,77,777 investment
Seniors will get estimated interest of Rs 1,87,092 and the estimated maturity of Rs 9,64,869.
SBI Senior Citizen 3-year FD: Return on Rs 9,99,999 investment
The estimated interest that senior citizens will get be Rs 2,40,547 and the estimated interest will be 12,40,546.
SBI Senior Citizen 5-year FD: Return on Rs 5,55,555 investment
They will get an estimated interest of Rs 2,49,971, and the estimated maturity of Rs 8,05,526.
SBI Senior Citizen 5-year FD: Return on Rs 7,77,777 investment
The estimated interest on investing Rs 7,77,777 will be Rs 3,49,959, and the estimated maturity amount will be Rs 11,27,736.
SBI Senior Citizen 5-year FD: Return on Rs 9,99,999 investment
A Rs 9,99,999 investment will help senior citizens get an estimated Rs 4,49,948 in interest and estimated Rs 14,49,947 in maturity.