SBI to Canara Bank: Check 3-year FD returns on Rs 8 lakh investment for general and senior citizens
If you are planning for a 3-year fixed deposit (FD) but are confused about which banks to opt for. Here, you will find a comparison of the interest rates of 3-year FD from banks such as State Bank of India (SBI), Bank of Baroda (BoB), and Canara Bank. This scheme is for both general and senior citizens. Therefore, take a look and then plan accordingly.
A 3-year fixed deposit (FD) can be a good option for investors who are not looking for an immediate return but want it in the short term only. FD can also be a guaranteed option that can help investors get monthly income for 3 years if they opt for it. Thus, before investing individuals must compare interest rates offered by different banks and small banks. In this article, we will compare a 3-year FD of State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) to find out what general and senior citizens will get after investing Rs 8 lakh in each FD.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
SBI 3-year general citizen FD interest rate
The interest rate is 6.75 per cent for general citizens.
SBI 3-year senior citizen FD interest rate
The interest rate is 7.25 per cent for senior citizens.
Bank of Baroda 3-year general citizen FD interest rate
The interest rate is 7.15 per cent for general citizens.
Bank of Baroda 3-year senior citizen FD interest rate
The interest rate is 7.65 per cent for senior citizens.
Canara Bank 3-year general citizen FD interest rate
The interest rate is 6.80 per cent for general citizens.
Canara Bank 3-year senior citizen FD interest rate
The interest rate is 7.65 per cent for senior citizens.
SBI 3-year FD: Maturity amount for general citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 9,77,914 in a 3-year fixed deposit for general citizens. The estimated return will be Rs 1,77,914.
SBI 3-year FD: Maturity amount for senior citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 9,92,438 in a 3-year fixed deposit for senior citizens. The estimated return will be Rs 1,92,438.
Bank of Baroda 3-year FD: Maturity amount for general citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 9,89,517 and the estimated return will be Rs 1,89,517.
Bank of Baroda 3-year FD: Maturity amount for senior citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 10,04,198 and the estimated return will be Rs 2,04,198.
Canara Bank 3-year FD: Maturity amount for general citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 9,79,358 and the estimated return will be Rs 1,79,358.
Canara Bank 3-year FD: Maturity amount for senior citizens on Rs 8 lakh investment
The estimated maturity amount will be Rs 10,04,198 and the estimated return will be Rs 2,04,198.