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Senior Citizen 3-year FD Scheme: Investing Rs 8,00,000 in FD? Know which PSU or private bank can give you highest maturity amount?
- Written by Bhawna Gupta
Published: Zee Business| Updated: Zee Business
Banks and financial institutions provide various fixed deposit (FD) schemes to general and senior citizens. These schemes include tenures ranging from one year to 10 years, as well as special FD tenures such as 444-day, 365-day, 13-month, and 555-day, among others. FDs offer better liquidity options in comparison with other investment plans like PPF (Public Provident Fund) and ELSS (Equity-Linked Saving Schemes). However, if you prematurely withdraw your FD, you may need to pay a penalty. Due to its lock-in period, banks provide higher interest rates on FD than on savings accounts.
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Senior Citizen 3-year FD Scheme
1/9This article talks about a 3-year FD scheme for senior citizens. It also compares the maturity of Rs 8,00,000 deposits in banks like SBI, ICICI Bank, HDFC Bank, and BoB.
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SBI 3-year FD
2/9The State Bank of India (SBI) offers a 6.80 per cent interest rate to senior citizens on a 3-year FD scheme.
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Maturity on Rs 8 lakh deposit in SBI
3/9On an Rs 8,00,000 deposit in BoB, senior citizens can get Rs 9,79,358 on maturity.
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BoB 3-year FD
4/9The Bank of Baroda (BoB) offers a 7 per cent interest rate to senior citizens on a 3-year FD scheme.
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Maturity on Rs 8 lakh deposit in BoB
5/9On an Rs 8,00,000 deposit in BoB, senior citizens can get Rs 9,85,151 on maturity.
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ICICI Bank 3-year FD
6/9ICICI Bank gives a 7.10 per cent interest rate to senior citizens on a 3-year FD scheme.
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Maturity on Rs 8 lakh deposit in ICICI Bank
7/9On an Rs 8,00,000 deposit in ICICI Bank, senior citizens can get Rs 9,88,060 on maturity.
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HDFC Bank 3-year FD
8/9HDFC Bank gives a 6.95 per cent interest rate to senior citizens on a 3-year FD scheme.
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Maturity on Rs 8 lakh deposit in HDFC Bank
9/9On an Rs 8,00,000 deposit in HDFC Bank, senior citizens can get Rs 9,83,700 on maturity.
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