From SBI to BoB: Here Are 5 Govt Bank FDs Compared-- Check Latest Fixed Deposit Rates For Senior Citizens

Banks provide senior folks with special FD interest rates. In banks and post offices, there are numerous schemes that primarily target senior persons. Here is a comparison of the interest rates of fixed deposits for senior citizens.

Senior persons who deposit money into fixed-term investments for five to ten years will get an interest rate of 7.5% annually (starting on 15 February 2023). The FD interest rate for the general public is 6.50% for the same time frame.

Moreover, SBI has launched a special 400-day tenor plan (Amrit Kalash) with a 7.10 percent interest rate (w.e.f February 15, 2023). Older citizens are entitled to a 7.60% interest rate. The programme is open until March 31, 2023.

Senior adults can receive 7 percent FD interest on a five-year plan from Punjab National Bank (PNB). During a period of five to ten years, the bank is providing older residents 7.3 percent interest. The bank is providing 6.50 percent FD interest rates for 3 to 10 years to the general population.

The Central Bank of India has announced an interest rate of 6.92 percent for senior citizens on fixed-rate deposits with terms up to 10 years and longer. The same interest rate is applicable for FDs with terms of three to five years.

Canara Bank fixed deposit investors can get a 7 percent interest rate on FDs maturing from 3 years to 5 years.

The public sector bank offers a 6.75 percent interest rate on senior citizens on FDs maturing between 5 to more than 10 years. You can yield 7.25 percent interest rate on fixed deposits having term deposit of 2 years to less than 5 years.