PSU bank or private bank, senior citizens mostly get a higher interest rate on fixed deposits (FDs) than general citizens. FD is the most preferred investment option among senior citizens because of its fixed return feature. The principal amount remains safe in FDs. In this article, we will see what interest rate private banks like ICICI Bank, HDFC Bank, Federal Bank, and Bandhan Bank provide on FDs to senior citizens.
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1/10Senior citizens get a 7 per cent interest rate on 1-year FD from HDFC bank. The bank gives a 7.20 per cent and 7.15 per cent interest rate on a 3-year and a 5-year FD scheme, respectively.
2/101-year FD: Rs 5,35,930 3-year FD: Rs 6,19,360 5-year FD: Rs 7,12,622
3/10The bank provides a 7 per cent interest rate to senior citizens on 1-year FD plan. The bank gives a 7.25 per cent interest rate on 3-year and 5-year FD schemes.
4/101-year FD: Rs 5,35,930 3-year FD: Rs 6,20,273 5-year FD: Rs 7,16,130
5/10Bandhan Bank offers an 8.25 per cent interest rate to senior citizens on a 1-year FD scheme. The bank gives 7.75 per cent and 6.60 per cent interest rates to senior citizens on 3-year and 5-year FD plans, respectively.
6/101-year FD: Rs 5,42,544 3-year FD: Rs 6,29,474 5-year FD: Rs 6,73,428
7/10Federal Bank gives a 7.25 per cent interest rate on 1-year FD, while the bank offers 7.40 per cent interest rate on 3-year and 5-year FDs.
8/101-year FD: Rs 5,37,248 3-year FD: Rs 6,23,021 5-year FD: Rs 7,21,424
9/10ICICI Bank: 7.20% HDFC Bank: 6.90% Bandhan Bank: 6.60% Federal Bank: 7%
10/10ICICI Bank: Rs 10,20,660 HDFC Bank: Rs 9,91,010 Bandhan Bank: Rs 9,62,200 Federal Bank: Rs 10,00,799