In many banks, the interest rate given on FD for senior citizens is up to 8 percent. Let us tell you that Fixed Deposit (FD) has always been the most preferred mode of investment among senior citizens. In such a situation, let us know about three government banks which are giving interest rate of 8% or more to the people coming in the category of their senior citizens.
In the current year, the interest rate on Fixed Deposit (FD) has been increased by many banks . The maximum benefit of this increased interest rates is being given to the people falling in the senior citizen category. Even in many banks, the interest rate given on FD for senior citizens is up to 8%.
Let us tell you that Fixed Deposit (FD) has always been the most preferred mode of investment among senior citizens. In such a situation, let us know about three government banks which are giving interest rate of 8 percent or more to the people coming in the category of their senior citizens.
Punjab And Sind Bank
The leading public sector bank is giving the benefit of more than 8 percent interest rate to customers falling in the senior citizen category. This bank has also announced a special FD scheme for customers falling in the senior citizen category. Punjab and Sind Bank had announced an increase in the interest rate on FDs with deposits of less than Rs 2 crore on 21 February 2023. Senior citizens will get 8.50% and customers falling in the category of super senior citizens will get an interest rate of 8.85% on Punjab and Sind Bank’s 222-day FD scheme.
On the other hand, 8.00% interest rate is being offered to senior citizens and 8.35% to very senior citizens on offline mode on 300 days deposit scheme. While the interest rate of 8.25% is being given to senior citizens and 8.60% to very senior citizens on online mode.
Punjab National Bank
Punjab National Bank is also offering an interest rate of up to 8 percent on FDs to senior category customers. PNB is promising a maximum interest rate of 7.75% to senior citizens on 666 days special FDs, however very senior citizens can avail interest rates up to 8.05%. PNB Uttam Non-Callable Fixed Deposit Scheme is offering a maximum interest rate of 7.80% for senior citizens and 8.10% for very senior citizens for deposits above Rs 15 lakh.
Union Bank of India
Union Bank of India had announced an increase in interest on its fixed deposit scheme on 25 November 2022 last year. Union Bank of India is offering an interest rate of 7.80 per cent on two special schemes of 800 days and three years. On the other hand, customers falling in the super senior category are being given the benefit of 8.05 per cent interest rate on the FD scheme.
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