Senior Citizen Fixed Deposit Interest calculation: Several banks are currently offering high Fixed Deposit interest rates to senior citizens. In large banks like SBI and HDFC Banks, senior citizens can get up to 7.5% interest. This article looks at how much interest income one can get by depositing Rs 1 lakh and Rs 5 lakh in fixed deposits of 1,3,5 and 10 years offered by State Bank of India (SBI), HDFC Bank and Post Office.

SBI Fixed Deposit calculation

Rs 1 lakh fixed deposit in 1 year: You can earn Rs 6396 as interest on a deposit of Rs 1 lakh for 1 year in SBI, the FD calculator shows. The interest rate for this duration is 6.25% for senior citizens.

Rs 1 lakh fixed deposit in 3 years: You can earn Rs 23,144 as interest on a deposit of Rs 1 lakh for 3 years in SBI, the FD calculator shows. The interest rate for this duration is 7% for senior citizens.

Rs 1 lakh fixed deposit in 5 years: You can earn Rs 44,995 as interest on a deposit of Rs 1 lakh for 5 years in SBI, the FD calculator shows. The interest rate for this duration is 7.5% for senior citizens.

Rs 1 lakh fixed deposit in 10 years: You can earn Rs 1,10,235 as interest on a deposit of Rs 1 lakh for 10 years in SBI, the FD calculator shows. The interest rate for this duration is 7.5% for senior citizens.

Also Read: Senior Citizen Post Office schemes: Time Deposit to RD, NSC, MIS, KVP – Premature Encashment Rules

HDFC Bank Fixed Deposit calculation

Rs 1 lakh fixed deposit in 1 year: You can earn Rs 7291 as interest on a deposit of Rs 1 lakh for 1 year in HDFC Bank, the FD calculator shows. The interest rate for this duration is 7.1% for senior citizens in this bank.

Rs 1 lakh fixed deposit in 3 years: You can earn Rs 24,972 as interest on a deposit of Rs 1 lakh for 3 years in HDFC Bank, the FD calculator shows. The interest rate for this duration is 7.5% for senior citizens in this bank.

Rs 1 lakh fixed deposit in 5 years: You can earn Rs 44,995 as interest on a deposit of Rs 1 lakh for 5 years in HDFC Bank, the FD calculator shows. The interest rate for this duration is 7.5% for senior citizens.

Rs 1 lakh fixed deposit in 10 years: You can earn Rs 1,15,456 as interest on a deposit of Rs 1 lakh for 10 years in HDFC Bank, the FD calculator shows. The interest rate for this duration is 7.75% for senior citizens.

Also Read: SBI Fixed Deposit offering highest interest rate to senior citizens to close this month. Details

Post Office Fixed Deposit calculation

Rs 1 lakh fixed deposit in 1 year: You can earn Rs 6975 as interest on a deposit of Rs 1 lakh for 1 year in Post Office, the FD calculator shows. The interest rate for this duration is 6.8% for senior citizens as well as others.

Rs 1 lakh fixed deposit in 3 years: You can earn Rs 23,144 as interest on a deposit of Rs 1 lakh for 3 years in Post Office, the FD calculator shows. The interest rate for this duration is 7% for senior citizens as well as others.

Rs 1 lakh fixed deposit in 5 years: You can earn Rs 44,995 as interest on a deposit of Rs 1 lakh for 5 years in Post Office, the FD calculator shows. The interest rate for this duration is 7.5% for senior citizens as well as others.

Rs 1 lakh fixed deposit in 10 years: Post Office doesn’t offer 10-year fixed deposits.