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For those seeking guaranteed and a decent return, Fixed Deposit (FD) schemes have long been a favorite among them. Investors, especially senior citizens, preferred it more because of a fixed return with minimal risk.

Different banks offer different returns for different periods and they have variety of schemes tailored to meet the diverse needs of investors. State Bank of India (SBI), a leading player in the banking sector is one of them.

SBI Senior Citizen Fixed Deposit

SBI's senior citizen FDs not only provide a safe haven for investment but also offer attractive interest rates. That's why it is a compelling choice in today's financial landscape.

Here are details that can make it easy to understand the returns senior citizens can get on Rs 2 lakh FD for different tenures.

SBI Fixed Deposit (FD) Rates 2024

At present, SBI offers annual interest rates ranging from 7.25 per cent to 7.6 per cent on its senior citizen FDs.

Return On Rs 2 Lakh Investment In 1-Year SBI Senior Citizen FD

Invested Amount: Rs 2 lakh

Interest Rate: 7.3 per cent

Interest earned in 1 year: Rs 15,005

Total maturity amount: Rs 2,15,005

Return On Rs 2 Lakh Investment In 3-Year SBI Senior Citizen FD

Invested Amount: Rs 2 lakh

Interest Rate: 7.25 per cent

Tenure: 3 years

Interest Earned: Rs 48,109

Total Maturity Amount: Rs 2,48,109

Return On Rs 2 Lakh Investment In 5-Year SBI Senior Citizen FD

Invested Amount: Rs 2 lakh

Interest rate: 7.5 per cent

Tenure: 5 years

Interest Earned: Rs 89,990

Total Maturity Amount: Rs 2,89,990

(Disclaimer: The above given data is for informational purposes only. Don't take it as a financial or investment guide. The figure can change in certain circumstances.)