Senior Citizen Bank FD Scheme : People often look to invest their savings from earnings in order to generate higher returns. Fixed Deposit (FD) is considered one of the safest investment options, as it offers guaranteed returns along with complete security of money.
Because of these benefits, not only young investors but also senior citizens are increasingly investing in Fixed Deposits (FD News). Many banks are offering attractive interest rates on FDs for senior citizens (High Interest FD for Senior Citizens). In some banks, senior citizens can earn up to ₹26,000 as interest by investing ₹1 lakh in an FD.
Senior Citizen Bank FD Scheme : Bank of Baroda Offering Attractive Interest Rates
Currently, Bank of Baroda (BOB FD Interest Rates for Senior Citizens) is offering a high interest rate of 7.75% on Fixed Deposits for senior citizens. This interest rate is applicable on a 3-year FD. By investing ₹1 lakh, senior citizens can receive around ₹1,26,000 at maturity, which includes ₹26,000 as interest.
Axis Bank FD Benefits
Like other banks, Axis Bank is also offering good returns on FDs for senior citizens. Axis Bank (Axis Bank Senior Citizen FD) is offering an interest rate of 7.60% on a 3-year FD. On investing ₹1 lakh, senior citizens can earn around ₹25,000 as interest, and receive approximately ₹1,25,000 at maturity.
Interest Rates Offered by HDFC and Other Banks
HDFC Bank (HDFC Senior Citizen FD) is offering 7.50% interest on a 3-year FD for senior citizens. Similarly, ICICI Bank (ICICI Bank FD Rate) and Punjab National Bank (PNB Senior Citizen FD) are also offering the same interest rate. By investing ₹1 lakh in these banks, senior citizens can receive around ₹1,25,000 after three years.
SBI Fixed Deposit Interest Rates
State Bank of India (SBI FD News), the country’s largest public sector bank, is also offering attractive interest rates for senior citizens. SBI (SBI Senior Citizen FD) is offering 7.25% interest on a 3-year FD of ₹1 lakh, resulting in an interest income of approximately ₹24,000.
Indian Bank FD Interest Rates
Indian Bank (Indian Bank Senior Citizen FD) is offering 6.75% interest on a 3-year FD of ₹1 lakh for senior citizens. At maturity, investors will receive around ₹1,22,000. However, the returns are slightly lower compared to other banks (Bank FD News).
Bank of India Interest Rates
Bank of India (Bank of India Senior Citizen FD) is offering 7% interest on a 3-year FD of ₹1 lakh. At maturity, senior citizens can earn an interest of approximately ₹23,000.
Union Bank of India FD Rates
Union Bank of India (Union Bank of India FD) is also offering 7% interest on a 3-year FD for senior citizens. On investing ₹1 lakh, the total return at maturity will be around ₹1,23,000.
Canara Bank FD Interest Rates
Canara Bank (Canara Bank Senior Citizen FD) is offering an interest rate of 7.30% on a 3-year FD for senior citizens. By investing ₹1 lakh, senior citizens can earn around ₹24,000 as interest at maturity.