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)

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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.


Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more