Highest Fixed Deposit Interest Rate for Senior Citizens 2023 – Fixed Deposit rates in India have become higher lately concerning the new lending rate hikes promulgated by the Reserve Bank of India (RBI- Central Bank) since past year.
Senior Citizens can now book Fixed Deposits at more than 9% interest with a Small Finance Bank (SFB) which are a type of niche banks in India that accepts deposits and lending.
Although, when it comes to public sector banks, it offers highest interest rate of 8% to senior citizens.
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Today, many senior citizens go for Government sector banks, here let’s look at the highest FDs rate proffer by 5 lending Government Banks in India –
1. State Bank of India (SBI)
2. Punjab National Bank (PNB)
3. Bank of India (BOI)
4. Bank of Baroda (BOB)
5. Central Bank of India (CBI)
SBI FDs Rate for Senior Citizens 2023
At present, the State Bank of India (SBI) offers 7.5% interest to Senior Citizens below the deposit of Rs 2 crore for a duration of 2-3 years and 5- 10 years. The public sector Banks has recently introduced Amrit Kalash Deposit, which is a temporary scheme offering 7.6% interest to senior citizens.
PNB FDs Rate for Senior Citizens 2023
At present, the Punjab National Bank (PNB) offers 7.75% interest to senior citizens on deposits for 666 days. And for super senior citizens, the Bank offers 8.05% interest. The Public sector Banks also offering a 7.5% interest rate to senior citizens on deposits of more than 2 years and up to 3 years.
BOI FDs Rate for Senior Citizens 2023
Bank of India (BOI) offers a 7.55% interest rate to senior citizens on a minimum deposits of 444 days. The Government bank offers 7.25% interest rate on domestic term deposits of below Rs 2 crore for 2-5 years. Under BOI’s cumulative deposits scheme, it offers 8.85% interest on deposits of 8-10 year. And on deposit of 3 to 5 years, the Government banks is offering 8.02% interest.
CBI FDs Rate for Senior Citizens 2023
At present, Central Bank of India (CBI) is offering 7.85% interest rate to senior citizens on special callable deposits of a minimum tenure of 444 days. And on a deposit of 555 days, the Government banks offers 7.5% interest rate.
BOB FDs Rate for Senior Citizens 2023
At present, the Bank is offering 7.55% interest on the term deposits of 399 days under Baroda Tiranga plus Deposit Scheme. It offers 7.25% on Fixed Deposits of many tenors’ deposits of 1year, 1-400 days, 400 days- 2 year, 2 year to 3 years, 5-10 years, 444 and 555 days.
The given information is taken from the website of Government Banks as on 20th February’2023.
