SBI, Canara Bank, PNB, HDFC Bank, and ICICI Bank are offering these interest rates to senior citizens in 1-, 3-, and 5-year FDs
Senior Citizen FD Latest Interest Rates: Senior citizens often use fixed deposit (FD) schemes as part of their retirement planning. They invest in fixed deposit schemes to get guaranteed returns in the form of interest. Apart from limited-period special FDs, SBI, PNB, Canara Bank, HDFC Bank, and ICICI Bank run 1-, 3-, and 5-year FD schemes for senior citizens.
Senior Citizen FD Latest Interest Rates: Senior citizens in their post-retirement life want some source of income that can help them meet their monthly expenses. At the same time, it is a stage in their life where they can't take a risk with it. So, a lot of them invest in guaranteed return schemes, where their money is at a minimum risk, and from where they can get regular income in the form of interest. That's the reason, a lot of them invest in fixed deposit (FD) schemes. Here, they make a one-time investment and get interest on maturity. However, they can also get it monthly, quarterly, or annually, depending on the plan they choose at the beginning. Banks offer additional 50 bps interest to senior citizens in different FDs compared to what they offer to general citizens.
State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, Canara Bank, and ICICI Bank offer 1-year, 3-year, and 5-year FDs to senior citizens other than special FDs. In this write-up, know what are the interest rates of these banks in the 1-, 3-, and 5-year FDs. (Data source: Paisabazaar.om)
Photos: Unsplash/Pixabay
SBI Senior Citizen 1-year FD Interest Rate
The country' top lender is offering 7.30 per cent interest rate in its 1-year FD.
SBI Senior Citizen 3-year FD Interest Rate
The interest rate in is 3-year FD is 7.25 per cent.
SBI Senior Citizen 5-year FD Interest Rate
Senior citizens get 7.50 per cent in SBI's 5-year FD.
PNB Senior Citizen 1-year FD Interest Rate
Punjab National Bank is offering 7.30 per cent interest in its 1-year FD.
PNB Senior Citizen 3-year FD Interest Rate
The lender's interest rate for its 3-year FD is 7.50 per cent.
PNB Senior Citizen 5-year FD Interest Rate
PNB's interest rate for its 5-year FD is 7 per cent.
Canara Bank Senior Citizen 1-year FD Interest Rate
The bank is offering 7.35 per cent interest rate in its 1-year FD.
Canara Bank Senior Citizen 3-year FD Interest Rate
Canara Bank's interest rate for its 3-year FD is 7.30 per cent.
Canara Bank Senior Citizen 5-year FD Interest Rate
Senior citizens get 7.20 per cent interest rate in the bank's 5-year FD.
HDFC Bank Senior Citizen 1-year FD Interest Rate
The country's largest private bank is proffering 7.30 per cent interest rate in its 1-year FD.
HDFC Bank Senior Citizen 3-year FD Interest Rate
It is offering 7.50 per cent interest rate in its 3-year FD.
HDFC Bank Senior Citizen 5-year FD Interest Rate
HDFC Bank offers 7.25 per cent interest rate to senior citizens in its 5-year FD.
ICICI Bank Senior Citizen 1-year FD Interest Rate
The private sector lender is offering 7.10 per cent interest rate to senior citizens in the 1-year FD.
ICICI Bank Senior Citizen 3-year FD Interest Rate
The bank's rate for its 3-year FD is 7.50 per cent.
ICICI Bank Senior Citizen 5-year FD Interest Rate
ICICI Bank offers 7.50 per cent interest rate to senior citizens in its 5-year FD.