New Delhi: August 21 is celebrated as World Senior Citizen’s Day. In India, the majority of the senior citizens opt to invest their savings in risk free oriented schemes rather than choosing the market-linked financial investments. In this article, we inform you about the Fixed Deposit (FD) rates being offered by banks, including State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, Axis Bank, and Bank of India (BOI).
SBI FD interest rates
SBI is offering 7.50* interest rates to senior citizens on Fixed Deposit schemes with a tenor of 5 years and up to 10 years. The country’s largest public sector bank has fixed 7.5 per cent and 7.3 per cent on 2 years to less than 3 years and 1 Year to less than 2 years FD tenures, respectively.
Tenors
Existing Rates for Public w.e.f. 15/05/2024
Revised Rates for Public w.e.f. 15/06/2024
Existing Rates for Senior Citizen w.e.f. 15/05/2024
Revised Rates for Senior Citizen w.e.f. 15/06/2024
7 days to 45 days
3.5
3.5
4
4
46 days to 179 days
5.5
5.5
6
6
180 days to 210 days
6
6.25
6.5
6.75
211 days to less than 1 year
6.25
6.5
6.75
7
1 Year to less than 2 years
6.8
6.8
7.3
7.3
2 years to less than 3 years
7
7
7.5
7.5
3 years to less than 5 years
6.75
6.75
7.25
7.25
5 years and up to 10 years
6.5
6.5
7.50*
7.50*
HDFC Bank FD rates 2024 (Less than Rs 3 cr)
HDFC Bank is offering 7.9 per cent on 4 Years 7 Months (55 months) tenor. The country’s largest private sector bank is offering 7.85 per cent interest on 2 Years 11 Months – 35 Months tenor. The bank is giving 7.5 per cent on fixed deposit tenors – 21 months – 2 years, 2 Years 1 day to < 2 Year 11 Months, 2 Years 11 Months 1 day < = 3 Year, 3 Years 1 day to < 4 Years 7 Months, 4 Year 7 Months 1 day < = 5 Years, 5 Years 1 day – 10 Years.
Axis Bank FD rates for senior citizens
Axis Bank is offering 7.75% interest on FD of 1 year , 8 per cent on 1 year 1 day to < 18 months tenor, 8.25 per cent on 18 months 1day to < 24 months, and 8 per cent on 36 months to < 60 months.
Tenor
Interest rate
46 days to 90 days
4.60%
91 days to 120 days
5.25%
121 days to 180 days
5.50%
181 days to 271 days
6.60%
272 days to < 1 year
6.85%
1 year
7.75%
1 year 1 day to < 18 months
8.00%
18 months
8.50%
18 months 1day to < 24 months
8.25%
24 months to < 36 months
7.75%
36 months to < 60 months
8.00%
60 months
8.00%
60 months 1 day to <= 120 months
7.75%
PNB FD rates for senior citizens
Punjab National Bank is offering 7.5 interest rate on 300 Days tenure; on 400 fixed deposit scheme the bank is offering 7.75 interest to senior citizens. The PSU bank is giving 7.30 per cent on tenures – > 2 years to 3 years 7.50, 401 Days to 2 Years, > 5 years to 1894 days and 1896 days to 10 years.
Period
Revised Rates For Public w.e.f. 01.08.2024
*Revised Rates for Senior Citizens w.e.f. 01.08.2024
#Revised Rates for Super Senior Citizens w.e.f. 01.08.2024
7 to 14 Days
3.5
4
4.3
15 to 29 Days
3.5
4
4.3
30 to 45 Days
3.5
4
4.3
46 to 60 Days
4.5
5
5.3
61 to 90 Days
4.5
5
5.3
91 to 179 Days
4.5
5
5.3
180 to 270 Days
6.25
6.75
7.05
271 Days to 299 Days
6.5
7
7.3
300 Days
7.05
7.55
7.85
301 Days to < 1 Year
6.5
7
7.3
1 Year
6.8
7.3
7.6
> 1 Year to 399 days
6.8
7.3
7.6
400 Days
7.25
7.75
8.05
401 Days to 2 Years
6.8
7.3
7.6
> 2 years to 3 years
7
7.5
7.8
> 3 years to 1203 days
6.5
7
7.3
1204 days**
6.4
6.9
7.2
1205 days to 5 years
6.5
7
7.3
> 5 years to 1894 days
6.5
7.3
7.3
1895 days**
6.35
7.15
7.15
1896 days to 10 years
6.5
7.3
7.3
Bank of India FD rates 2024
Bank of India is offering 7.95 interest rate on 666 days FD tenor. the bank is offering 7.45 interest to elders on FD schemes for 1 Year, Above 1 Year to less than 2 Years (except 666 Days), and 2 Years.
Maturity
For Deposits of Less than Rs. 3 Cr
#Revised Rates For Senior Citizens w.e.f 01.08.2024
07 days to 14 days
3
15 days to 30 days
3
31 days to 45 days
3
46 days to 90 days
4.5
91 days to 179 days
4.5
180 days to 210 days
6.5
211 days to 269 days
6.5
270 days to less than 1 Year
6.5
1 Year
7.3
Above 1 Year to less than 2 Years (except 666 Days)
7.3
666 days
7.8
2 Years
7.3
Above 2 Years to less than 3 Years
7.25
3 Years to less than 5 Years
7.25
5 Years to less than 8 Years
6.75
8 years & above to 10 Years
6.75
Let’s have a look at the interest rates on Fixed Deposit schemes offered by SBI, PNB, HDFC Bank, Axis Bank, Bank of India to senior citizens. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
