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Good News Senior Citizens: Get higher returns than Post Office on fixed deposits from these government banks
Senior Citizens Fixed Deposit Interest Rate 2022: There is good news for Senior Citizens who want to invest in safe instruments and get a higher return. Several public sector lenders have revised their interest rates on fixed deposits and those who benefit most are senior citizens as they get an additional rate of interest compared to the general public. The interest rates are much higher than that being offered by the Post Office. At present, the post office fixed deposit interest rate is between 5.5 per cent and 6.7 per cent depending on the tenure of the deposit.
Post Office Fixed Deposit Interest Rate 2022
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India Post or Post Office is offering an interest rate of 5.5 per cent on fixed deposit for one year, 5.7 per cent on FDs for two years, 5.8 per cent on FDs of three years and 6.7 per cent on FDs of 5 years. The rate is same for all investors.
State Bank of India (SBI) Fixed Deposit Interest Rate 2022
The largest public sector lender SBI is offering a return of up to 6.9 per cent for senior citizens on fixed deposits. The bank is offering an interest rate of 6.75 per cent for FDs of two to three years and 6.9 per cent for FDs maturing in five to 10 years. However, if you invest in a fixed deposit under SBI We Care scheme for five to 10 years, the bank is offering a return of 7.2 per cent for senior citizens.
Bank of Baroda (BoB) Fixed Deposit Interest Rate 2022
The Bank of Baroda is offering a return of 6.9 per cent for senior citizens on fixed deposits maturing in five to 10 years. The bank is offering an interest rate of 6.75 per cent on deposits for above two years and up to five years.
PNB Fixed Deposit Interest Rate 2022
Punjab National Bank is offering an interest rate of 7.5 per cent to senior citizens on fixed deposits for 600 days. The bank is giving a return of 6.8 per cent on FDs of one year to two years, 6.75 per cent on FDs of two to three years and 6.9 per cent on FDs of five to 10 years. The PNB is offering a return of 7.8 per cent for super senior citizens (above 80 years) on the fixed deposit for 600 days and 7.1 per cent on FDs of one year to two years (except for the 600 days scheme).
Canara Bank FD Interest Rate 2022
Senior citizens investing in Canara Bank's 666 days fixed deposit scheme will earn a return of 7.5 per cent. The bank is offering a return of 6.75 per cent on FDs with a maturity tenure of one year to three years (except for 666 days), and 7 per cent for deposits with a maturity tenure of three to 10 years.
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