Highest Senior Citizen FD Rates: Here's what banks like SBI, PNB, BoB, Canara Bank, HDFC Bank and ICICI Bank are providing on 1-year, 3-year, 5-year fixed deposits
Highest Senior Citizen FD Rates: Bank of Baroda (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.
Generally, the banks provide lower interest rates for a shorter duration. Before investing money in a fixed deposit (FD) scheme, you should compare the interest rates offered by different banks. In FDs, you can invest a lump sum amount for a fixed period to earn interest. The FDs are considered the safest way of investment. Most of the banks provide better returns to senior citizens on FDs.
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SBI, PNB, BoB, Canara Bank, HDFC Bank and ICICI Bank FD interest rates
In this article, we will discuss what banks like SBI, PNB, BoB, Canara Bank, HDFC Bank and ICICI Bank currently provide to senior citizens. Take a look:
Interest on FDs
The interest rate on FDs is not the same in all the banks. Senior citizens get little more interest than general citizens on term deposits (TD) or FDs.
FD benefits
In FD, you can get fixed interest rates. This is a safe investment option.
FD tenure
You can deposit your amount from seven days to around 10 years in an FD.
State Bank of India: 1-year, 3-year, 5-year 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: 1-year, 3-year, 5-year 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: 1-year, 3-year, 5-year 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: 1-year, 3-year, 5-year 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: 1-year, 3-year, 5-year 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: 1-year, 3-year, 5-year 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.
PNB: 1-year, 3-year, 5-year FD rates
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.