5 PSU banks offering highest interest rates on 3-year senior citizen FDs—See list

Senior Citizen FD interest rates: If you want to park your money in a reliable and guaranteed return investment option, then opening a fixed deposit in a bank can be a wise decision. Bank FDs are generally considered to be risk-free investments; however, it is important to compare interest rates offered by different banks to get maximum returns. After the RBI cut the repo rate in three Monetary Policy Committee (MPC) meetings since February this year, most banks have also cut their interest rates on fixed deposits. Here is a list of five public sector banks that are offering the highest interest rates on senior citizen FDs for a tenure of 3 years. Additionally, we will calculate the maturity amount on a lump sum investment of Rs 10 lakh for both general customers and senior citizens.

Top public sector banks offer the highest interest rates - 

Central Bank of India

For a tenure of 3 years, the Central Bank of India is offering the highest interest rate to senior citizens. The bank is giving 7.25 per cent interest per annum. While general citizens are earning 6.75 percent interest annually. 

How much money can you get on maturity by investing Rs 10 lakh in the Central Bank of India FD?

If you are investing Rs 10 lakh in Central Bank of India FD for a tenure of 3 years, then
As a general customer, you can get Rs 12,22,393 on maturity.
As a senior citizen, you can get Rs 12,40,547 on maturity.

Union Bank of India

For a tenure of 3 years, Union Bank of India is offering a 7.10 per cent interest rate to senior citizens. Whereas general citizens are getting 6.60 per cent interest annually. 

How much money can you get on maturity by investing Rs 10 lakh in the Union Bank of India FD?

If you are investing Rs 10 lakh in the Union Bank of India FD for a tenure of 3 years, then
As a general customer, you can get Rs 12,16,994 on maturity.
As a senior citizen, you can get Rs 12,35,075 on maturity.

Bank of Baroda

For a tenure of 3 years, Bank of Baroda is offering a 7 per cent interest rate to senior citizens. Whereas general citizens are getting 6.50 per cent interest annually. 

How much money can you get on maturity by investing Rs 10 lakh in the Bank of Baroda FD?

If you are investing Rs 10 lakh in BOB FD for a tenure of 3 years, then
As a general customer, you can get Rs 12,13,408 on maturity.
As a senior citizen, you can get Rs 12,31,439 on maturity.

Bank of India

For a tenure of 3 years, Bank of India is also offering a 7 per cent interest rate to senior citizens. While general citizens are earning 6.25 per cent interest annually. 

How much money can you get on maturity by investing Rs 10 lakh in the Bank of India FD?

If you are investing Rs 10 lakh in BOI FD for a tenure of 3 years, then
As a general customer, you can get Rs 12,04,483 on maturity.
As a senior citizen, you can get Rs 12,31,439 on maturity.

Canara Bank

For a tenure of 3 years, Canara Bank is offering a 7 per cent interest rate to senior citizens. While general citizens are earning 6.50 per cent interest annually. 

How much money can you get on maturity by investing Rs 10 lakh in Canara Bank FD?

If you are investing Rs 10 lakh in Canara Bank FD for a tenure of 3 years, then
As a general customer, you can get Rs 12,13,408 on maturity.
As a senior citizen, you can get Rs 12,31,439 on maturity.