Photo Credit: A senior citizen couple at one of Ashiana Housing’s senior living projects. (Source: Ashiana Housing)
Earn as high as 9.50% interest rate on Fixed deposits for senior citizens from these selected banks
Senior citizens are eligible for 7.60% interest rate under the SBI Amrit Kalash deposit programme. Moreover, the bank is providing older citizens with fixed deposit rates of 7.50% for terms of 5 years and up to 10 years through the "SBI WeCare" deposit scheme.
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For fixed deposits with terms ranging from 5 years one day to 10 years, senior residents receive an annual interest rate of 7.75% from HDFC Bank. The bank is providing an extra 0.75% interest rate through its Senior Citizen Care FD offer.
Photo Credit: HDFC Bank Logo
Elderly people can earn up to 0.75% higher interest through IDBI Bank's Naman Senior Citizen programme. The interest rate on deposits with maturities between one year and two years (except for 444 days and 700 days) is 7.50%, and the interest rate on deposits with maturities between three years and ten years is 7%.
Photo Credit: IDBI Bank Logo
Under the IND SHAKTI 555 DAYS plan, Indian Bank is offering 7% interest rate to general citizens and 7.50% to elderly citizens.
Photo Credit: Indian Bank Logo
For deposits under Rs 2 crore, this bank offers senior people fixed deposit interest rates ranging from 3.60% to 9.01%. Senior residents with a term of 1,000 days are offered the maximum interest rate of 9.01%.
This bank is offering elderly people fixed deposits with interest rates starting from 4.75% to 9%. The 700-day tenure carries the highest interest rate of 9%.
Senior citizens are offered fixed deposit interest rates ranging from 4.50% to 9.50%. On a term of 1001 days, the highest interest rate of 9.50% is provided. Additionally, a 9.25% interest rate is given for terms ranging from 181 to 201 days and 501 days.