Senior Citizen FD Rates: Which bank offers you highest return on Rs 1 lakh deposit in 1-, 3-, and 5-year schemes? Check calculations
Punjab National Bank (PNB) provides 7.75 per cent interest rate to senior citizens on 400 days FD scheme while it gives 7.30 per cent, 7.50 per cent, and 7 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 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 7.75 per cent interest rate to senior citizens on 444 days - Amrit Vrishti scheme while it gives 7.30 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 1,07,502
3-year: Rs 1,24,055
5-year: Rs 1,44,995
BoB FD rates
Bank of Baroda (BoB) provides 7.80 per cent interest rate to senior citizens on 400 days - Bob Utsav scheme while it gives 7.35 per cent, 7.65 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 1,07,555
3-year: Rs 1,25,525
5-year: Rs 1,44,285
PNB FD rates
Punjab National Bank (PNB) provides 7.75 per cent interest rate to senior citizens on 400 days FD scheme while it gives 7.30 per cent, 7.50 per cent, and 7 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 1,07,502
3-year: Rs 1,24,972
5-year: Rs 1,41,478
Canara Bank FD rates
Canara Bank provides 7.9 per cent interest rate to senior citizens on 3 years to less than 5 years FD scheme while it gives 7.35 per cent, 7.90 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 1,07,555
3-year: Rs 1,26,452
5-year: Rs 1,42,875
ICICI Bank FD rates
ICICI Bank provides 7.80 per cent interest rate to senior citizens on 15 months to less than 18 months FD scheme while it gives 7.20 per cent, 7.50 per cent, and 7.50 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 1,07,397
3-year: Rs 1,24,972
5-year: Rs 1,44,995
HDFC Bank FD rates
HDFC Bank provides 7.90 per cent interest rate to senior citizens on 4 Year 7 Months (55 months) FD scheme while it gives 7.10 per cent, 7.50 per cent, and 7.50 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
HDFC Bank: Returns on Rs 1 lakh investment
1-year: Rs 1,07,291
3-year: Rs 1,24,972
5-year: Rs 1,44,995
Axis Bank FD rate
Axis Bank provides 7.75 per cent interest rate to senior citizens on 15 months to less than 2 years; 5 years to 10 years FD scheme while it gives 7.20 per cent, 7.60 per cent, and 7.75 per cent interest rates on 1-year, 3-year, and 5-year FD plans respectively.
Axis Bank: Returns on Rs 1 lakh investment
1-year: Rs 1,07,397
3-year: Rs 1,25,340
5-year: Rs 1,46,784