SBI, PNB, HDFC Bank, ICICI Bank, BoB Latest FD Rates: Here's what senior citizens can get on Rs 3,00,000 investment in 1-year, 3-year, 5-year and 10-year tenures
Current FD Rates: The HDFC Bank provides a 7.10 per cent interest rate on 1-year FD, a 7.40 per cent interest rate on 3-year FD, a 7.25 per cent interest rate on 5-year FD, and a 7 per cent interest rate on 10-year FD to senior citizens.
Different banks offer different interest rates to general and senior citizens. However, most banks provide a higher interest rate to senior citizens and super senior citizens than to general citizens. Depending on your investment and liquidity needs, you can deposit a sum from seven days to 10 years in FDs. But before making an FD, investors should compare rates from various banks to get better returns on maturity. Talking about TDS, senior citizens are exempted from TDS on FD interest income up to a specific threshold. This limit is increased to Rs 1 lakh from April 1, 2025, which was Rs 50,000 earlier. In this article, we will compare the FD interest rates of a few banks and see which bank can provide better returns on a Rs 3,00,000 investment to senior citizens.
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SBI latest FD rates
The PSU bank gives a 7.20 per cent interest rate on 1-year FD, 7.25 per cent on 3-year FD, and 7.50 per cent each on 5-year and 10-year FDs.
SBI- Maturity amount on Rs 3,00,000 investment
1-year FD: Rs 3,22,190
3-year FD: Rs 3,72,164
5-year FD: Rs 4,34,984
10-year FD: Rs 6,30,705
PNB FD rates for senior citizens
The Punjab National Bank (PNB) gives a 7.30 per cent interest rate on 1-year FD, a 7.25 per cent interest rate on 3-year FD, a 6.75 per cent interest rate on 5-year FD, and a 6.80 per cent interest rate on 10-year FD to senior citizens.
PNB- Maturity amount on Rs 3,00,000 investment
1-year FD: Rs 3,22,507
3-year FD: Rs 3,72,164
5-year FD: Rs 4,19,250
10-year FD: Rs 5,88,789
HDFC Bank current FD rates
The HDFC Bank provides a 7.10 per cent interest rate on 1-year FD, a 7.40 per cent interest rate on 3-year FD, a 7.25 per cent interest rate on 5-year FD, and a 7 per cent interest rate on 10-year FD to senior citizens.
HDFC Bank- Maturity amount on Rs 3,00,000 investment
1-year FD: Rs 3,21,874
3-year FD: Rs 3,73,812
5-year FD: Rs 4,29,678
10-year FD: Rs 6,00,479
BoB latest FD rates
The Bank of Baroda (BoB) gives a 7.35 per cent interest rate on 1-year FD, a 7.65 per cent interest rate on 3-year FD, a 7.40 per cent on 5-year FD, and a 7.50 per cent interest rate on 10-year FD.
BoB- Maturity amount on Rs 3,00,000 investment
1-year FD: Rs 3,22,665
3-year FD: Rs 3,76,574
5-year FD: Rs 4,32,854
10-year FD: Rs 6,30,705
ICICI Bank current FD rates for senior citizens
The bank offers a 7.20 per cent interest rate on 1-year FD, 7.40 per cent on 3-year FD, 7.40 per cent on 5-year FD, and a 7.30 per cent interest rate on 10-year FD to senior citizens.
ICICI Bank- Maturity amount on Rs 3,00,000 investment
1-year FD: Rs 3,22,190
3-year FD: Rs 3,73,812
5-year FD: Rs 4,32,854
10-year FD: Rs 6,18,441