Senior Citizen Latest FD Rates: Know what SBI, BoB, PNB, other PSU banks pay on Rs 10,00,000 investment in 1-10 years

Fixed deposit (FD) is considered the safest way of investment among other schemes as it gives you guaranteed returns and the interest rate remains the same as the bank or financial institution promised you to give at the time of investment. However, the interest rate may change when you renew your FDs. Senior citizens get a higher interest rate on FDs than general citizens. However, the rate of interest varies from bank to bank and depends on various factors, including tenure. You can deposit your money in FDs for seven days to 10 years. The senior citizen FD scheme is for Indian residents over 60.

Latest senior citizen FD rates

Here is what PSU banks like SBI, PNB, BoB, Canara Bank, and other banks are providing to senior citizens on different tenure FDs.

SBI FD rates

Public lender State Bank of India (SBI) offers 6.75 per cent and 6.80 per cent interest rates on 1-year and 3-year FDs, respectively, while it gives a 7.05 per cent interest rate on each 5-year and 10-year FDs.

SBI: Maturity amount on Rs 10 lakh investment

1-year FD: Rs 10,69,227.90

3-year FD: Rs 12,24,197.35

5-year FD: Rs 14,18,258.37

10-year FD: Rs 20,11,456.80

BoB FD rates

Bank of Baroda (BoB) provides 6.75 per cent on each 1-year and 3-year FD schemes. The bank offers 6.90 per cent on a 5-year FD and 7 per cent interest rate on a 10-year FD to senior citizens.

BoB: Maturity amount on Rs 10 lakh investment

1-year FD: Rs 10,69,227.90

3-year FD: Rs 12,22,392.97

5-year FD: Rs 14,07,842.17

10-year FD: Rs 20,01,597.34

PNB FD rates

Punjab National Bank (PNB) provides a 6.75 per cent interest rate to senior citizens on its 1-year FD scheme, and 6.80 per cent, 6.85 per cent, and 6.80 per cent interest rates on 3-year, 5-year, and 10-year FD schemes, respectively.

PNB: Maturity amount on Rs 10 lakh investment

1-year FD: Rs 10,69,227.90

3-year FD: Rs 12,24,197.35

5-year FD: Rs 14,04,386.29

10-year FD: Rs 19,62,628.57

Canara Bank FD rates

Canara Bank gives a 6.75 per cent interest rate on each 1-year, 3-year, 5-year, and 10-year FD schemes.

Canara Bank: Maturity amount on Rs 10 lakh investment

1-year FD: Rs 10,69,227.90

3-year FD: Rs 12,22,392.97

5-year FD: Rs 13,97,498.68

10-year FD: Rs 19,53,002.55

Central Bank of India FD rates

The Central Bank of India provides a 6.60 per cent interest rate on 1-year FD, while the public bank gives 6.50 per cent interest rate on each 3-year, 5-year, and 10-year FD plans.

Central Bank of India: Maturity amount on Rs 10 lakh investment

1-year FD: Rs 10,67,651.54

3-year FD: Rs 12,13,407.58

5-year FD: Rs 13,80,419.77

10-year FD: Rs 19,05,558.75