Senior Citizen Bank FD Scheme : That’s why most people have started investing their money in Fixed Deposits. Many banks are currently offering attractive interest rates on FDs, especially for senior citizens. In fact, one major bank in the country is offering senior citizens up to ₹26,000 interest on a ₹1 lakh fixed deposit. Let’s get into the full details below.
People usually prefer to invest their savings to earn more money. FD is known as a low-risk investment option because it provides guaranteed returns and ensures the safety of your money.
Due to these advantages, not only youngsters but also senior citizens are increasingly investing in Fixed Deposits (FDs). Many banks are now offering higher interest rates on FDs for senior citizens. In one such bank, senior citizens can earn up to ₹26,000 in interest by investing ₹1 lakh in a Fixed Deposit.
Bank of Baroda FD Interest Rates for Senior Citizens
At present, Bank of Baroda (BOB) is offering senior citizens an attractive interest rate of 7.75% on a 3-year FD. By investing ₹1 lakh for three years, senior citizens can get around ₹1,26,000 upon maturity. This means they will earn a total of ₹26,000 as interest.
Axis Bank FD Benefits
Similar to other banks, Axis Bank is also providing good returns on FDs for senior citizens. The bank is offering an interest rate of 7.60% for a 3-year FD. On an investment of ₹1 lakh, a senior citizen can earn approximately ₹25,000 as interest over three years, making the maturity amount around ₹1,25,000.
Interest Rates Offered by HDFC, ICICI, and PNB
For senior citizens, HDFC Bank is offering 7.50% interest on a 3-year FD. The same rate is being offered by ICICI Bank and Punjab National Bank (PNB) as well. By investing ₹1 lakh for three years in any of these banks, senior citizens can receive a maturity amount of about ₹1,25,000.
SBI FD Interest Rates for Senior Citizens
State Bank of India (SBI), the country’s largest public sector bank, also provides competitive interest rates for senior citizens. On a 3-year FD of ₹1 lakh, SBI offers an interest rate of 7.25%, resulting in around ₹24,000 in interest earnings by the end of the tenure.
Indian Bank FD Interest Rates
For senior citizens, Indian Bank offers an interest rate of 6.75% on a 3-year FD of ₹1 lakh. Upon maturity, investors receive around ₹1,22,000. Although this return is slightly lower compared to other banks, it still provides a secure investment option.
Bank of India FD Interest Rates
Bank of India is offering an interest rate of 7% on a 3-year FD of ₹1 lakh for senior citizens. This results in a profit of around ₹23,000 upon maturity.
Union Bank of India FD Interest Rates
Union Bank of India (UBI) is offering 7% interest on a 3-year fixed deposit for senior citizens. On an investment of ₹1 lakh, they can earn about ₹23,000 as interest, making it a profitable option for long-term investment.
Canara Bank FD Interest Rates
Canara Bank offers senior citizens an interest rate of 7.30% on a 3-year FD. By investing ₹1 lakh, senior citizens can earn around ₹24,000 as interest upon maturity.
Conclusion
FDs remain one of the safest and most reliable investment options, especially for senior citizens looking for stable and guaranteed returns. With many top banks offering attractive interest rates—ranging from 6.75% to 7.75%—investors can earn up to ₹26,000 on a ₹1 lakh investment over three years. This makes Fixed Deposits a secure and rewarding choice for senior citizens seeking both income and safety.
