Senior Citizen FD Rates: Know highest interest rates SBI, PNB, HDFC Bank, ICICI Bank and others are offering

 

All leading banks in India encourage senior citizens to invest money in FDs, and as a result, they offer them higher interest rates on FDs compared to they offer to general citizens.

Senior Citizen FD Rates: Fixed Deposit (FD) schemes are popular among senior citizens since they give them guaranteed returns. FDs are not market-linked, so they keep senior citizens' deposits safe and offer them good interest rates. Senior citizens can withdraw interest monthly, quarterly, half-yearly, or annually. Such a regular income can help them meet monthly expenses and achieve financial freedom even at an old age. All leading banks in India encourage senior citizens to invest money in FDs, and as a result, they offer them higher interest rates on FDs compared to they offer to general citizens. State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, HDFC Bank, and ICICI Bank are some of the banks offering a higher interest. In this write-up, know senior citizen FD interest rates that these banks are offering (Source: Paisabazaar.com).

State Bank of India (SBI)

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The country's leading public lender is offering its highest interest rate in the 400-day Amrit Kalash scheme.

The interest rate for its 1-year FD is 7.30 per cent, for the 3-year FD, it is 7.25 per cent, and for the 5-year FD, it is 7.50 per cent.

Punjab National Bank (PNB)

PNB offers its highest interest rate of 7.75 per cent in the 400-day FD. The FD rate for its 1-year FD is 7.25 per cent, for the 3-year FD, it is 7.50 per cent, while for the 5-year FD, it is 7.00 per cent. 

Bank of Baroda

It offers its highest interest rate of 7.75 per cent in FDs ranging from 2 years to 3 years.

The interest rate in its 1-year FD is 7.35 per cent, in the 3-year FD, it is 7.75 per cent, and in the 5-year FD, it is 7.15 per cent.

Canara Bank

The bank is offering its highest interest rate in the 444-day FD. It offers a 7.35 per cent interest rate in the 1-year FD, 7.30 per cent in the 3-year FD, and 7.20 per cent in the 5-year FD. 

HDFC Bank

The bank is offering the highest interest rate of 7.75 per cent in the 5 years 1 day to 10 years and 18 months to less than 21 months FDs.

The bank's interest rate for the 1-year FD is 7.10 per cent, while for the 3-year and 5-year FDs, it is offering 7.50 per cent interest.  
 

ICICI Bank

The bank is offering its highest interest rate of 7.75 per cent in FDs of 15 months to 2 years.

The interest rate for its 1-year FD is 7.20 per cent, while for its 3-year and 5-year FDs, the interest rate is 7.50 per cent. 

Kotak Mahindra Bank

The bank offers its highest interest rate of 7.90 per cent in FDs ranging from 390 days to less than 23 months.

While the FD rates for its 1-year and 3-year FDs are 7.60 per cent, the 5-year FD offers an interest rate of 6.70 per cent.