Senior Citizen Guaranteed Return Schemes: Know what PSU banks like SBI, BoB, PNB and other banks are providing on 1-year, 3-year, and 5-year FDs
Senior Citizen Guaranteed Return Schemes: The minimum deposit amount in FDs varies from bank to bank, and the FD Tenure usually ranges from seven days to 10 years.
Fixed deposits are among the most popular types of investments because they are safe and provide guaranteed returns. Senior Citizens can earn somewhat better interest rates than general residents on fixed deposits. However, FD interest rates for senior citizens vary based on various things, including tenure.
Images: Pixabay, Pexels, Freepik
What is the minimum and maximum deposit amount?
The minimum deposit amount varies from bank to bank.
FD Tenure
It usually ranges from seven days to 10 years.
Latest senior citizen FD rates
Here is what PSU banks like SBI, PNB, BoB, Canara Bank, and other banks like ICICI Bank, HDFC Bank, and Axis Bank are providing to senior citizens on different tenure FDs.
SBI FD rates
Public lender provides 7.75 per cent interest rate to senior citizens on 444 days - Amrit Vrishti scheme while it gives 7.30 per cent, 7.25 per cent, and 7.50 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
BoB FD rates
Bank of Baroda (BoB) provides 7.80 per cent interest rate to senior citizens on 400 days - Bob Utsav scheme while it gives 7.35 per cent, 7.65 per cent, and 7.40 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
PNB FD rates
Punjab National Bank (PNB) provides 7.75 per cent interest rate to senior citizens on 400 days FD scheme while it gives 7.30 per cent, 7.50 per cent, and 7 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
Canara Bank FD rates
Canara Bank provides 7.9 per cent interest rate to senior citizens on 3 years to less than 5 years FD scheme while it gives 7.35 per cent, 7.90 per cent, and 7.20 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
ICICI Bank FD rates
ICICI Bank provides 7.80 per cent interest rate to senior citizens on 15 months to less than 18 months FD scheme while it gives 7.20 per cent, 7.50 per cent, and 7.50 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
HDFC Bank FD rates
HDFC Bank provides 7.90 per cent interest rate to senior citizens on 4 Year 7 Months (55 months) FD scheme while it gives 7.10 per cent, 7.50 per cent, and 7.50 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
Axis Bank FD rate
Axis Bank provides 7.75 per cent interest rate to senior citizens on 15 months to less than 2 years; 5 years to 10 years FD scheme while it gives 7.20 per cent, 7.60 percent, and 7.75 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.