SBI 3-year FD vs BoB 3-year FD: What will be maturity amounts on Rs 3 lakh and Rs 6 lakh investments for general and senior citizens?
Fixed deposits (FDs) are a classic and popular investment option known for being safe and secure in comparison to equity. State Bank of India and Bank of Baroda are currently offering competitive interest rates. Therefore, let’s find out what general and senior citizens will get on Rs 3 lakh and 6 lakh investments.
SBI 3-year FD vs BoB 3-year FD: Both State Bank of India (SBI) and Bank of Baroda (BoB), are popular banks which are offering competitive interest rates on 3-year FDs. Thus, let's find out how much general and senior citizens can earn on investments of Rs 3 lakh and Rs 6 lakh with SBI and BoB's 3-year FDs.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
What is fixed deposit?
FD is a type of investment in which you can invest a lump sum for a fixed period of time. You can withdraw the maturity amount on the completion of the scheme. You can also choose to receive interest payments at regular intervals, such as monthly, quarterly, or annually, or you can leave the interest to accumulate in your deposit till the maturity date.
SBI 3-year FD interest rate for general citizens
The interest rate is 6.75 per cent for general citizens.
SBI 3-year FD interest rate for senior citizens
The interest rate is 7.25 per cent for general citizens.
BoB 3-year FD interest rate for general citizens
Bank of Baroda is offering a 7.15 per cent interest rate to general citizens.
BoB 3-year FD interest rate for senior citizens
It is offering a 7.65 per cent interest rate to senior citizens.
SBI 3-year FD: Maturity amount for general citizens on Rs 3 lakh investment
The estimated maturity amount will be Rs 3,66,717. The estimated return will be Rs 66,717.
SBI 3-year FD: Maturity amount for senior citizens on Rs 3 lakh investment
The estimated maturity amount will be Rs 3,72,164. The estimated return will be Rs 72,164.
BoB 3-year FD: Maturity amount for general citizens on Rs 3 lakh investment
The estimated maturity amount will be Rs 3,71,068. The estimated return will be Rs 71,068.
BoB 3-year FD: Maturity amount for senior citizens on Rs 3 lakh investment
The estimated maturity amount will be Rs 3,76,574. The estimated return will be Rs 76,574.
SBI 3-year FD: Maturity amount for general citizens on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,33,435. The estimated return will be Rs 1,33,435.
SBI 3-year FD: Maturity amount for senior citizens on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,44,328. The estimated return will be Rs 1,44,328.
BoB 3-year FD: Maturity amount for general citizens on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,42,137. The estimated return will be Rs 1,42,137.
BoB 3-year FD: Maturity amount for senior citizens on Rs 6 lakh investment
The estimated maturity amount will be Rs 7,53,148. The estimated return will be Rs 1,53,148.