Maturity: ₹53,593 at 7% p.a. Interest earned: ₹3,593. Senior citizen maturity: ₹53,857.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹50K Fixed Deposit in South Indian Bank for 1 Year at 7% p.a. (quarterly compounding) will mature to ₹53,593. You earn ₹3,593 as interest, giving a total return of 7.2% on your investment.
At 7% p.a. (quarterly compounding), ₹50K FD in South Indian Bank for 1 Year matures to ₹53,593. Interest earned: ₹3,593. Senior citizen maturity: ₹53,857 at 7.5%.
South Indian Bank offers 7% p.a. for general citizens and 7.5% p.a. for senior citizens on 1 Year Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹50K at 7% for 1 Year, you would earn approximately ₹3,593 as interest, making total maturity ₹53,593. Senior citizens earn ₹3,857 at 7.5%.
Yes, premature withdrawal is allowed. South Indian Bank's policy: 1% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.