Know what SBI, PNB, Canara Bank and others are offering to senior citizens on 1-,3- and 5-year FDs

Tax on FDs

FDs allow to save tax on earnings under Section 80C of the Income Tax Act.

Senior Citizen FD: Minimum investment

The amount of minimum investment depends on banks. Every bank does not offer same rate of interest on FDs.

 

Senior Citizen FD: Tenure

Generally, FDs range from seven days to a maximum of 10 years.

SBI, Bank of Baroda, ICICI Bank, Canara Bank and other banks' FD rate

Here are latest fixed deposit rates that SBI, Bank of Baroda, ICICI Bank, Canara Bank, and others are offering currently.

State Bank of India- 1yr-3yr-5yr FD rates

In one year, SBI gives a 7.30 per cent interest rate to senior citizens while in 3-year and 5-year FDs, the bank provides 7.25 per cent and 7.50 per cent interest rates respectively.

BoB- 1yr-3yr-5yr FD rates

BoB offers 7.35 per cent interest rate to senior citizens in one year, 7.65 per cent in three years, and 7.15 per cent in five years.

ICICI Bank- 1yr-3yr-5yr FD rates

ICICI offers a 7.20 per cent interest rate to senior citizens in one year, 7.50 per cent in three years, and 7.50 per cent in five years.

Axis Bank- 1yr-3yr-5yr FD rates

Axis Bank offers a 7.20 per cent interest rate to senior citizens in one year, 7.60 per cent in three years, and 7.75 per cent in five years.

Canara Bank- 1yr-3yr-5yr FD rates

Canara Bank offers a 7.35 per cent interest rate to senior citizens in one year, 7.30 per cent in three years, and 7.20 per cent in five years.

HDFC Bank- 1yr-3yr-5yr FD rates

HDFC Bank offers 7.10 per cent interest rate to senior citizens in one year, 7.50 per cent in three years, and 7.50 per cent in five years.

Punjab National Bank

PNB offers a 7.30 per cent interest rate to senior citizens in one year, 7.50 per cent in three years, and 7.00 per cent in five years.