Interest Rate for Fixed Deposit for Senior Citizens in 2022: Senior citizens who want to invest in secure instruments. and get a better return to have wonderful news to share. Senior citizens benefit the most from these revisions to public sector lenders’ fixed deposit interest rates. Because they receive a higher rate than the broader public. The interest rates given are significantly greater than those provided by the Post Office.
The interest rate on post office fixed deposits now ranges from 5.5% to 6.7%, depending on the deposit’s term.
India Post or the Post Office is currently offering interest rates on fixed deposits for one year, two years, three years, and five years at 5.5%, 5.7, 5.8, and 6.7%, respectively. For all investors, the rate is the same.
Interest Rate for Fixed DepositSBI, the largest lender in the public sector, is giving older persons who deposit money in fixed-term investments a return of up to 6.9%.
For FDs expiring in two to three years and five to ten years. The bank is giving interest rates of 6.75 percent and 6.9 percent, respectively. The bank is offering a return of 7.2% for senior citizens who invest in a fixed deposit for five to ten years under the SBI We Care program.
For fixed deposits expiring in five to ten years. The Bank of Baroda is giving older residents a yield of 6.9%. On deposits held for longer than two years and up to five years. The bank is paying an interest rate of 6.75 percent.
For 600 days, the Punjab National Bank will pay older citizens 7.5% interest on fixed deposits.
FDs with terms of one to two years, two to three years, and five to ten years. The bank offers returns of 6.8 percent, 6.75 percent, and 6.9 percent, respectively. For extremely elderly folks (above 80 years old), the PNB is offering a return of 7.8% on FDs for 600 days. And a return of 7% on FDs for one to two years (except for the 600 days scheme).
Seniors who participate in Canara Bank’s 666-day fixed deposit plan will receive a 7.5% return.
Except for 666 days, the bank is offering a return on fixed-rate deposits (FDs) with maturities between one year and three years of 6.75 percent. And deposits with maturities between three and ten years of 7 percent.