The country's well-known government bank 'State Bank of India i.e. SBI keeps coming up with new services for the convenience of its customers. The people of India prefer to save their money in government banks. SBI also provides the facility of Fixed Deposit i.e. FD. Meanwhile, know for what period it is beneficial to invest in FD for senior citizens.
SBI FD Rate 2024
At present, SBI is offering interest rates ranging from 7.25 percent to 7.6 percent on its Senior Citizen FD.
Returns on investment of Rs 2 lakh in 1-year SBI Senior Citizen FD
Investment amount: 2 lakhs
Interest rate: 7.3 percent
Interest earned in 1 year: Rs 15 thousand 5
Total maturity amount: Rs 2 lakh 15 thousand 5
Returns on investment of Rs 2 lakh in 3-year SBI Senior Citizen FD
Investment amount: 2 lakhs
Interest rate: 7.25 percent
Interest earned: Rs 48 thousand 109
Total maturity amount: Rs 2 lakh 48 thousand 109
Total period: 3 years
Returns on investment of Rs 2 lakh in 5-year SBI Senior Citizen FD
Investment amount: 2 lakhs
Interest rate: 7.5 percent
Interest earned: Rs 89 thousand 990
Total maturity amount: Rs 2 lakh 89 thousand 990
Total period: 5 years
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