SBI 1-year FD vs HDFC Bank 1-year FD vs Canara Bank 1-year FD: Which gives highest return to senior citizens on Rs 4 lakh, Rs 8 lakh, and Rs 12 lakh investments?

SBI 1-year FD vs HDFC Bank 1-year FD vs Canara Bank 1-year FD: Senior citizens who necessitate a regular, fixed income from their concern put successful fixed deposit (FD) schemes.

It keeps their wealth comparatively safer than galore market-linked schemes.

At the aforesaid time, guaranteed returns pull them to spot their wealth turn gradually.

Banks connection higher FD involvement rates to elder citizens compared to what they connection to wide citizens.

Among accepted FDs, 1-, 3-, and 5-year FDs are fashionable among investors.

Those who put successful the 5-year FD besides get taxation benefits nether Section 80C of the Income Tax, 1961.

Senior citizens who privation instrumentality connected their concern successful the abbreviated word besides prime 1-year FD for the investment.

In this write-up, cognize what are the involvement rates State Bank of India (SBI), HDFC Bank, and Canara Bank are offering to elder citizens successful their 1-year FD schemes, and what volition they get connected maturity if they put Rs 4 lakh, Rs 8 lakh, and Rs 12 lakh successful the guaranteed instrumentality scheme. 

SBI 1-year FD: Interest complaint for elder citizens

The involvement complaint for elder citizens successful the 1-year SBI FD is 7.30 per cent.

HDFC Bank 1-year FD: Interest complaint for elder citizens

The largest backstage assemblage slope is offering 7.10 per cent involvement complaint to elder citizens successful its 1-year FD.

Canara Bank 1-year FD: Interest complaint for elder citizens

The PSU bank's involvement complaint for elder citizens successful its 1-year FD is 7.35 per cent.

SBI 1-year FD: Return connected Rs 4 lakh investment

The estimated instrumentality connected it volition beryllium Rs 30,009.12, and the estimated maturity volition beryllium Rs 4,30,009.12.

SBI 1-year FD: Return connected Rs 8 lakh investment

Senior citizens volition get estimated involvement of Rs 60,018.24 and the estimated maturity magnitude of Rs 8,60,018.24.

SBI 1-year FD: Return connected Rs 12 lakh investment

The estimated involvement 1 volition get connected this concern volition beryllium Rs 90,027.36 and the estimated maturity volition beryllium Rs 12,90,027.36.

HDFC Bank 1-year FD: Return connected Rs 4 lakh investment

The estimated involvement connected a Rs 4 lakh concern successful the HDFC FD volition beryllium Rs 29,165.14, and the estimated corpus volition beryllium Rs 4,29,165.14.

HDFC Bank 1-year FD: Return connected Rs 8 lakh investment

The estimated involvement 1 volition get connected this magnitude volition beryllium Rs 58,330.27, and the estimated maturity volition beryllium Rs 8,58,330.27.

HDFC Bank 1-year FD: Return connected Rs 12 lakh investment

Senior citizens volition get estimated instrumentality of Rs 87,495.41 and an estimated maturity magnitude of Rs 12,87.495.41.

Canara Bank 1-year FD: Return connected Rs 4 lakh investment

The estimated involvement magnitude connected a Rs 4 lakh concern successful the Canara Bank 1-year FD volition beryllium Rs 30,220.31, and the estimated maturity volition beryllium Rs 4,30,220.31.

Canara Bank 1-year FD: Return connected Rs 8 lakh investment

Senior citizens volition get estimated involvement of Rs 60,440.62 and an estimated maturity of Rs 8,60,440.62.

Canara Bank 1-year FD: Return connected Rs 12 lakh investment

Senior citizens volition get estimated involvement of Rs 90,660.93 and the estimated maturity magnitude of Rs 12,90,660.93.