SBI, PNB, HDFC Bank, ICICI Bank Senior Citizens FD Rates: Know maturity on Rs 3,33,333 investment in 5-year FD schemes of these leading banks
Senior Citizens FD Rates: Despite the growing number of investment avenues available today, most senior citizens in India still prefer traditional options, often choosing public sector banks over private ones.
Senior citizens prefer fixed deposits (FDs) for their guaranteed returns, low risk, and fixed interest rates, allowing predictable income over the tenure. Despite a wide range of investment options today, many senior citizens continue to favour traditional choices, often opting for public sector banks over private ones. Deposits are protected under the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to Rs 5 lakh per depositor per bank, further reinforcing their trust.
Following the Reserve Bank of India's 25 basis points repo rate cut during the April 9, 2025, monetary policy review, many banks have revised their fixed deposit rates.
Here's a look at the latest offerings from State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, and ICICI Bank for 5-year FDs—and how much a senior citizen can earn on an investment of Rs 3,33,333.
(Disclaimer: These are projected calculations based on current FD rates and should not be considered financial advice. Please consult a financial expert for personalised investment planning.)
Images: Pixabay, Freepik, UnsplashImages: Pixabay, Freepik, Unsplash
What is senior citizen FD?
Senior citizen FD is a type of fixed deposit investment designed for people aged 60 years and above.
Benefits of FD for senior citizens
1. Higher interest rates than regular FDs.
2. Flexible deposit tenure options.
3. Premature withdrawal allowed with minimal penalty.
4. Loans available against FD.
5. Safe and guaranteed fixed returns.
SBI FD interest rate for senior citizens
State Bank of India offers an interest rate of 7.20 per cent for a 1-year FD, 7.25 per cent for a 3-year FD, and 7.50 per cent for a 5-year FD.
PNB FD interest rates for senior citizens
Punjab National Bank offers an interest rate of 7.30 per cent for a 1-year FD, 7.25 per cent for a 3-year FD, and 6.75 per cent for a 5-year FD.
HDFC Bank FD interest rates for senior citizens
HDFC Bank offers an interest rate of 7.10 per cent for a 1-year FD, 7.40 per cent for a 3-year FD, and 7.25 per cent for a 5-year FD.
ICICI Bank FD interest rates for senior citizens
ICICI Bank offers 7.20 per cent for a 1-year FD, 7.40 per cent for a 3-year FD, and 7.40 per cent for a 5-year FD.
SBI 5-year FD: Maturity on Rs 3,33,333 investment for senior citizens
Estimated Maturity Value: Rs 4,83,315.53
Estimated Interest Earned: Rs 1,49,982.53
PNB 5-year FD: Maturity on Rs 3,33,333 investment for senior citizens
Estimated Maturity Value: Rs 4,65,832.43
Estimated Interest Earned: Rs 1,32,499.43
HDFC Bank 5-year FD: Maturity on Rs 3,33,333 investment for senior citizens
Estimated Maturity Value: Rs 4,77,419.71
Estimated Interest Earned: Rs 1,44,086.71
ICICI Bank 5-year FD: Maturity on Rs 3,33,333 Investment for senior citizens
Estimated Maturity Value: Rs 4,80,948.95
Estimated Interest Earned: Rs 1,47,615.95