Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Latest FD Interest Rates for Senior Citizens: Different banks provide different interest rates on FDs. These returns are stable. There are tax saver FDs also which qualify for tax exemption under section 80C.
FD or fixed deposit is a lumpsum amount deposited by a customer in the bank on which they get fixed interest as returns. Interest on FDs differs from bank to bank. Some banks provide higher interest rates while others give less.
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What are the benefits of FD?
There are many benefits of fixed deposits that everyone should know for their financial planning. Let's take a look at some of them.
Simple process
You can open an FD in any bank without even having an account in it.
Tenure
The tenure can be from seven days to around 10 years.
Interest rate
Different banks provide different interest rates on FDs. These returns are stable.
Tax benefits
There are tax saver FDs also which qualify for tax exemption under section 80C.
Safe investment
FDs are one of the safest investment options.
SBI FD interest rate for senior citizens
State Bank of India (SBI) provides 7.75 per cent interest rate on its 444 days - Amrit Vrishti FD scheme.
BoB FD interest rate for senior citizens
Bank of Baroda (BoB) provides 7.80 per cent interest rate on its 400 days - Bob Utsav FD scheme.
Canara Bank FD interest rate for senior citizens
Canara Bank provides 7.75 per cent interest rate on its 444 FD scheme.
Punjab National Bank (PNB)
PNB provides 7.75 per cent interest rate on its 400 days FD scheme.
Axis Bank FD interest rate for senior citizens
Axis Bank gives 7.75 per cent interest rate to senior citizens on 15 months to less than 2 years; and 5 years to 10 years FD schemes.
ICICI Bank FD interest rate for senior citizens
The bank gives 7.80 per cent interest rate on 15 months to less than 18 months FD scheme to senior citizens.
HDFC Bank FD interest rate for senior citizens
The bank gives 7.90 per cent interest rate on 4 Year 7 Months (55 months) FD scheme to senior citizens.