FD calculator: Maturity on Rs 5L investment for 5 yrs
SBI senior citizen 5-year FD interest rate PNB senior citizen 5-year FD interest rate Canara Bank senior citizen 5-year FD interest rate HDFC Bank senior
SBI senior citizen 5-year FD interest rate PNB senior citizen 5-year FD interest rate Canara Bank senior citizen 5-year FD interest rate HDFC Bank senior citizen 5-year FD interest rate ICICI Bank senior citizen 5-year FD interest rate Axis Bank senior citizen 5-year FD interest rate Bank Senior citizen FD interest rate Investment Maturity amount Total interest earned Axis Bank 7.25% Rs 5 lakh Rs 7,16,130 Rs 2,16,130 State Bank of India (SBI) 7.05% Rs 5 lakh Rs 7,09,129 Rs 2,09,129 ICICI Bank 7.10% Rs 5 lakh Rs 7,10,873 Rs 2,10,173 Punjab Bank (PNB) 6.80% Rs 5 lakh Rs 7,00,469 Rs 2,00,469 Canara Bank 6.75% Rs 5 lakh Rs 6,98,749 Rs 1,98,749 HDFC Bank 6.65% Rs 5 lakh Rs 6,95,322 Rs 1,95,322 (FDs) are a popular choice among senior citizens who want to invest their money in a low-risk scheme while earning stable returns.
For senior citizens looking to lock in their savings for five years, a small change in interest rate can make a noticeable difference to the final maturity amount.Here's a look at the popular banks' FD interest rates on a 5-year tenure for senior citizens. Also know the approximate maturity amounts that you can get in these FDs on an investment of Rs 5 lakh in each.State Bank of India (SBI) offers a 7.05% interest rate on its 5-year fixed deposit scheme to senior citizens, including an additional 50 bps under the SBI We-care deposit scheme.If a person invests Rs 5 lakh for 5 years at 7.05%, the approximate maturity amount in the SBI senior citizen FD will be Rs 7,09,129, where the total interest earned will be approximately Rs 2,09,129.Punjab Bank (PNB) offers a 6.80% interest rate on its 5-year fixed deposit scheme to senior citizens.If a senior citizen invests Rs 5 lakh for five years in the PNB fixed deposit scheme at an interest rate of 6.80%, the maturity amount will be approximately Rs 7,00,469.
The total interest earned over the five-year period will be around Rs 2,00,469.Canara Bank offers a 6.75% interest rate on its 5-year FD to senior citizens.If a senior citizen invests Rs 5 lakh for five years in the Canara Bank fixed deposit scheme at an interest rate of 6.75%, the maturity amount will be approximately Rs 6,98,749. The total interest earned over the five-year period will be around Rs 1,98,749.HDFC Bank offers an interest rate of 6.65% on its 5-year fixed deposit to senior citizens.If a senior citizen invests Rs 5 lakh for five years in the HDFC Bank fixed deposit scheme at an interest rate of 6.65%, the approximate maturity amount will be Rs 6,95,322. The total interest earned over the five-year period will be around Rs 1,95,322.ICICI Bank offers a 7.1% interest rate on its 5-year senior citizen fixed deposit scheme.If a senior citizen invests Rs 5 lakh for five years in the Canara Bank 5-year FD at an interest rate of 7.1%, the maturity amount will be approximately Rs 7,10,873.
The total interest earned over the five-year period will be around Rs 2,10,873.Axis Bank offers a 7.25% interest rate on its 5-year fixed deposit to senior citizens.If a senior citizen invests Rs 5 lakh for five years in the Axis Bank fixed deposit at an interest rate of 7.25%, the maturity amount will be approximately Rs 7,16,130. The total interest earned over the five-year period will be around Rs 2,16,130.
The BriefWire