Senior Citizen Fixed Deposit (FD) Interest Rates: Compared rates offered by SBI, PNB, HDFC Bank, ICICI Bank and others
Investing in fixed deposits is a reliable way to secure and grow your savings. With competitive bank FD interest rates, you can earn a substantial return over a chosen tenure, ranging from 7 days to 10 years. Interest is accrued on the principal and paid back at the end of the tenure. Here we have the latest fixed deposit (FD) interest rates that SBI, PNB, HDFC, ICICI, BOI, BOB, Axis and Canara bank are offering.
One of the most effective ways to secure your money is by investing in fixed deposits. This approach not only helps you save but also allows you to earn substantial interest. Competitive bank FD interest rates provide depositors with a good return on investment over a fixed tenure. Under the fixed deposit scheme, the depositor makes a one-time deposit when opening the account. The interest rates offered depend on the bank, the deposit amount, and the tenure you choose.
At the end of the tenure, the interest accrued is calculated on the principal amount, and the total amount is paid back to the depositor. Fixed deposit tenures can range from 7 days to 10 years. In the next section, we list some of the banks that offer competitive interest rates.
SBI
- Rate: 7.75%
- Tenure: 444 days
HDFC
- Rate: 7.9%
- Tenure: 4 years 7 months (55 months)
ICICI Bank
- Rate: 7.75
- Tenure: 15 months to less than 18 months
Canara Bank
- Rate: 7.75%
- Tenure: 444 days
Axis Bank
- Rate: 7.75
- Tenure: 5 years to 10 years
Bank of India
- Rate: 7.8
- Tenure: 666 days
Bank of Baroda
- Rate: 7.75
- Tenure: 399 days
Punjab National Bank
- Rate: 7.75%
- Tenure: 400 days
Kotak Mahindra Bank
- Rate: 7.9
- Tenure: 390 days to less than 23 months