Senior Citizen FD Latest Interest Rates: Highest fixed deposit interest rates that SBI, PNB, Canara Bank, HDFC Bank, and ICICI Bank are offering
These banks include State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), HDFC Bank and ICICI Bank.
As fixed deposit (FD) is the safest way to park money, most of senior citizens want to invest in FD. This is because it gives fixed returns on your investment.
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Highest interest rate on FDs by banks
In this article, we will discuss the banks that provide the highest interest rates on FDs to senior citizens.
HDFC, ICICI, Canara Bank, PNB and other banks
These banks include State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), HDFC Bank and ICICI Bank.
HDFC bank
Interest rate - 7.9%
Tenure - 4 Year 7 Months (55 months)
ICICI Bank
Interest rate - 7.8%
Tenure - 15 months to less than 18 months
Bank of Baroda
Interest rate - 7.75%
Tenure - 399 days
Canara Bank
Interest rate - 7.75%
Tenure - 444 days
Punjab National Bank
Interest rate - 7.75%
Tenure - 400 days
State Bank of India
Interest rate - 7.75%
Tenure - 444 days
Axis Bank
Interest rate - 7.75%
Tenure - 5 years to 10 years
Bank of India
Interest rate - 7.8%
Tenure - 666 days
FD benefits
- Fixed returns
- Tax savings under Section 80C
- Higher rate of interest for senior citizens
- Flexibility to choose time period
- Easy to open
How to open an FD account?
By comparing banks, you can choose the type of FD by visiting branch and fill out the application form.
Eligibility
Different banks and NBFCs have different eligibility criteria.
Minimum deposit
Minimum deposit in an FD can be different from bank to bank.