Latest SBI Senior Citizen FD rates: What investors can get for Rs 6 lakh, Rs 12 lakh, and Rs 18 lakh on investments in Amrit Vrishti, 1-, 3-, and 5-year FDs

SBI Senior Citizen Fixed Deposit (FD) Interest Rates 2024, guaranteed repayment plan: Most senior citizens do not want to take a risk with their retirement corpus.

Therefore, they invest in investment instruments that are not linked to the market where they get guaranteed returns at a fixed rate of interest and where their money is at less risk.

Therefore, many of them choose fixed deposit schemes to invest. In FDs, they make a lump sum investment and get income in the form of interest.

The good part is that they can get this income at the right time which can be monthly, quarterly, semi-annually, annually, or at maturity.

Another important benefit is that banks offer more interest to senior citizens.

Like many other banks, State Bank of India (SBI) also has many FD schemes for senior citizens.

The country’s largest bank has specialized FDs like Amrit Vrishti, Amrit Kalash, Green Deposits, and Savottam.

At the same time, it uses traditional FDs of 1 year, 3 years, 5 years, and 10 years.

Among all its FDs, the bank offers the highest interest rate to senior citizens in the Amrit Vrishti scheme.

A special FD of 444 days offers an interest rate of 7.75 percent for them.

The interest rate on SBI’s 1-, 3-, and 5-year senior citizen FDs is 7.30 percent, 7.25 percent, and 7.50 percent respectively. (Data as per Paisabazaar.com)

From this write-up, know what will be the maturity amount for senior citizens if they invest Rs 6 lakh, Rs 12 lakh, and Rs 18 lakh in SBI Amrit Vrishti, 1 year, 3 years, and 1 year FDs 5.

SBI Amrit Vrishti Senior Citizen FD: Maturity at Rs 6 lakh, Rs 12 lakh, and investment of Rs 18 lakh

For an investment of Rs 6 lakh, the estimated interest will be Rs 58,722.25, and the estimated maturity will be Rs 6,58,722.25.

If one invests Rs 12 lakh, he will get an average interest of Rs 117444.50 and an average maturity of Rs 13,17,444.50.

By investing Rs 18 lakh, senior citizens will get an average interest of Rs 1,76,166.76 and an average maturity value of Rs 19,76,166.76.

1 year SBI Senior Citizen FD: Maturity on Rs 6 lakh, Rs 12 lakh, and Rs 18 lakh investments

The estimated interest will be Rs 45,013.68, and the estimated maturity will be Rs 6,45,013.68 for an investment of Rs 6 lakh.

For an investment of Rs 12 lakh, senior citizens will get an average interest of Rs 90,027.36 and an average maturity of Rs 12,90,027.36.

An investment of Rs 18 lakh will help seniors earn an interest of Rs 1,35,041.04 and a maturity of Rs 19,35,041.04.

3 years SBI Senior Citizen FD: Maturity on Rs 6 lakh, Rs 12 lakh, and Rs 18 lakh investments

The estimated interest on a 3-year FD will be Rs 1,44,328.19, and the estimated maturity will be Rs 7,44,328.19.

For an investment of Rs 12 lakh, the estimated interest will be Rs 2,88,656.39, and the estimated maturity will be Rs 14,88,656.39.

An investment of Rs 18 lakh will help seniors earn an interest of Rs 4,32,984.58 and an average of Rs 22,32,984.58 on maturity.

5 years SBI Senior Citizen FD: Maturity on Rs 6 lakh, Rs 12 lakh, and Rs 18 lakh investments

An investment of Rs 6 lakh in a tax saving FD will give an interest of approximately Rs 2,69,968.82 and a maturity of approximately Rs 8,69,968.82.

By investing Rs 12 lakh, senior citizens will get an interest of around Rs 5,39,937.63 and around Rs 17,39,937.63 at maturity.

If seniors invest Rs 18 lakh in a 5-year FD, they will earn an interest of Rs 8,09,906.45 and an average of Rs 26,09,906.45 on maturity.