SBI, BoB, PNB & Other Banks' Senior Citizen FD Rates: Which bank offers you highest return on Rs 11,00,000 deposit in 1-, 3-, and 5-year schemes
Punjab National Bank (PNB) provides 7.60 per cent interest rate to senior citizens on 400 days FD scheme while it gives 7.20 per cent, 7.25 per cent, and 6.75 per cent interest rates on 1-year, 3-year, and 5-year FD plans, respectively.
Fixed deposits are among the most popular investments because they are safe and provide guaranteed returns. Senior Citizens can earn better interest rates than general residents on fixed deposits. However, FD interest rates for senior citizens vary based on various things, including tenure. Banks also provide special FD schemes for senior citizens and general citizens. Some of these schemes include SBI's Amrit Vrishti and Bank of Baroda's BoB Utsav.
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SBI FD rates
Public lender provides 7.55 per cent interest rate to senior citizens on 444 days - Amrit Vrishti scheme while it gives 7.20 per cent, 7.25 per cent, and 7.50 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
SBI: Returns on Rs 1 lakh investment
1-year: Rs 11,79,200
3-year: Rs 13,57,014
5-year: Rs 15,79,192
BoB FD rates
Bank of Baroda (BoB) provides 7.60 per cent interest rate to senior citizens on 400 days - Bob Utsav scheme while it gives 7.30 per cent, 7.50 per cent, and 7.40 per cent interest rates on 1-year, 3-year, and 5-year FD plans, respectively.
BoB: Returns on Rs 1 lakh investment
1-year: Rs 11,80,300
3-year: Rs 13,66,526
5-year: Rs 15,71,860
PNB FD rates
Punjab National Bank (PNB) provides 7.60 per cent interest rate to senior citizens on 400 days FD scheme while it gives 7.20 per cent, 7.25 per cent, and 6.75 per cent interest rates on 1-year, 3-year, and 5-year FD plans, respectively.
PNB: Returns on Rs 1 lakh investment
1-year: Rs 11,79,200
3-year: Rs 13,57,014
5-year: Rs 15,24,867
Canara Bank FD rates
Canara Bank provides 7.75 per cent interest rate to senior citizens on 444-day FD scheme, while it gives 7.35 per cent, 7.70 per cent, and 7.20 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
Canara Bank: Returns on Rs 1 lakh investment
1-year: Rs 11,80,850
3-year: Rs 13,74,167
5-year: Rs 15,57,279
ICICI Bank FD rates
ICICI Bank provides a 7.55 per cent interest rate to senior citizens on an 18-month to 2-year FD scheme, while it gives 7.20 per cent, 7.40 per cent, and 7.40 per cent interest rates on 1-year, 3-year, and 5-year FD plans, respectively.
ICICI Bank: Returns on Rs 1 lakh investment
1-year: Rs 11,79,200
3-year: Rs 13,62,716
5-year: Rs 15,71,860