SBI 3-year FD vs Central Bank of India 3-year FD: Fixed deposit (FD) is a non-market-linked investment scheme where investors can park their money for a fixed duration and get a return on maturity.

Investors with a low-risk appetite who need fixed returns from their investments opt for FD investment.

Senior citizens use FD as a retirement scheme, where they invest one time to get a regular income in the form of interest. 

Monthly, quarterly payouts

Many investors want monthly, quarterly, half-yearly, or yearly payouts from their FD investment.

They can opt for that also after informing banks/small banks at the time of depositing their money.

In such cases, their overall return is less than the amount they can get on maturity.

FD durations

Banks and small banks offer FD schemes of durations ranging from 7 days to 10 years. Interest rates for these FDs can be different or the same.

Special FDs

Banks also offer special FDs from time to time.

These FDs are for a limited duration and often offer higher interest rates than regular FDs of similar or higher duration.

They may extend the investment duration depending on investor response.

SBI, Bank of India 3-year FD

State Bank of India and Bank of India both offer a 3-year FD each. Investors can opt for return on maturity, monthly, quarterly, half-yearly, and yearly payouts.

SBI 3-year FD: Interest rate for general citizens

State Bank of India offers a 6.75 per cent interest rate.

SBI 3-year FD: Interest rate for senior citizens

The interest rate for senior citizens is 7.25 per cent.

Central Bank of India 3-year FD: Interest rate for general citizens

General citizens get a 7 per cent interest rate in the Central Bank of India’s 3-year FD.

Central Bank of India 3-year FD: Interest rate for senior citizens

The FD interest rate for senior citizens is 7.50 per cent.

SBI 3-year FD: Monthly payout for general citizens on Rs 5 lakh investment

Maturity amount= Rs 5,97,500
Total interest earned= Rs 97,500
Monthly payout= Rs 2,708.33 

SBI 3-year FD: Quarterly payout for general citizens on Rs 5 lakh investment

Maturity amount= Rs 5,97,500
Total interest earned= Rs 97,500
Monthly payout= Rs 8,125

Central Bank of India 3-year FD: Monthly payout for general citizens on Rs 5 lakh investment

Maturity amount= Rs 6,05,000
Total interest earned= Rs 1,05,000
Monthly payout= Rs 2,916.66

Central Bank of India 3-year FD: Quarterly payout for general citizens on Rs 5 lakh investment

Maturity amount= Rs 6,05,000
Total interest earned= Rs 1,05,000
Monthly payout= Rs 8,750

SBI 3-year FD: Monthly payout for senior citizens on Rs 5 lakh investment

Maturity amount= Rs 6,08,750
Total interest earned= Rs 1,08,750
Monthly payout= Rs 3,020.83

SBI 3-year FD: Quarterly payout for senior citizens on Rs 5 lakh investment

Maturity amount= Rs 6,08,750
Total interest earned= Rs 1,08,750
Monthly payout= Rs 9,062

Central Bank of India 3-year FD: Monthly payout for senior citizens on Rs 5 lakh investment

Maturity amount= Rs 6,12,500
Total interest earned= Rs 1,12,500
Monthly payout= Rs 3,125

Central Bank of India 3-year FD: Quarterly payout for senior citizens on Rs 5 lakh investment

Maturity amount= Rs 6,12,500
Total interest earned= Rs 1,12,500
Monthly payout= Rs 9,375