Senior Citizen FD Rates: After increasing the Repo Rate by about 2 percent from RBI this year, many banks have increased the interest of loans and fixed deposits.
After the increase in the interest rate, many banks are giving more than 8 percent interest on fixed deposits. At some places, up to 9 percent interest is being given to senior citizens. If you are also planning to invest in FD, then here is information about some such banks, which are offering 8.30% interest on FD.
However, this interest rate is not applicable for all senior citizens. Bank Super Senior Citizens, who are 80 years or more, are being given. Let us know which are these banks, which are giving more interest on FD.
RBL Bank
For senior citizens above 60 years and below 80 years of age, this bank is giving 50 basis points more interest than common citizens on fixed deposits. This bank is giving 75 basis points more interest to senior citizens above 80 years. This means that this bank is giving 8.3 percent interest to the super senior citizens. This interest rate is effective from November 25, 2022.
Union Bank of India
This bank is giving 0.50 percent interest per annum to senior citizens, while super senior citizens are paying 0.75 percent interest every year. According to Union Bank’s website, after the increase on November 25, a maximum interest of 8.05 per cent is being given to super senior citizens on fixed deposits with a tenure ranging from 800 days to 3 years.
PNB
According to the bank’s website, senior citizens are being given 50 basis points more interest than the normal FD rate on FDs of less than 2 crores. While 80bps more interest is being given to super senior citizens. On the tenure of 666 days, 8.10 percent interest is being given to the super senior citizens. This interest rate is effective from 12 December 2022.
Indian Bank
According to the website of Indian Bank, under a special FD, an additional 0.25 percent interest is being given on FD to an elderly person of 80 years or more.
