7 banks including SBI, PNB, HDFC Bank, and ICICI Bank that are offering up to 7.75% interest on Senior Citizen FD
Banks such as State Bank of India (SBI), Bank of Baroda (BoB), ICICI Bank, HDFC Bank, Punjab National Bank (PNB) and Canara Bank offer up to 7.75% interest rate on 5-year FDs to senior citizens, as per Paisabazaar.com data.
5 banks that provide FD interest rates of up to 7.75% to senior citizens: Fixed deposit (FD) is a popular investment option for individuals seeking stability and guaranteed returns. Banks offer FDs of different tenures to people of different age groups, including senior citizens. Most of the banks offer higher interest rates to senior citizens than general citizens. One of the reasons behind this offer is that the banks want to support financial well-being of seniors who seek financial security at old age.
Banks such as State Bank of India (SBI), Bank of Baroda (BoB), ICICI Bank, HDFC Bank, Punjab National Bank (PNB) and Canara Bank offer up to 7.75% on FDs on five years to senior citizens (as per Paisabazaar.com data as on April 17, 2024).
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State Bank of India
State Bank of India
The country's largest PSU Bank is offering 7.50% interest rate to senior citizens.
Axis Bank
Axis Bank
Among the banks we have picked, Axis Bank tops the chart, ofering a 7.75% interest rate on the 5-year FD to senior citizens.
Bank of Baroda
Bank of Baroda
The lender is offering a 7.15% interest rate to senior citizens.
HDFC Bank
HDFC Bank
The country's largest bank offers a 7.50% interest rate to senior citizens on its 5-year FD.
ICICI Bank
ICICI Bank
ICICI Bank offers the same interest rate as HDFC Bank at 7.50%.
Canara Bank
Canara Bank
The large-cap PSU bank offers 7.20% interest to senior citizens on its 5-year FD.
Punjab National Bank
Punjab National Bank
PNB is offering a 7% interest rate to senior citizens.