Bandhan Bank offers FD interest rate of 8.05% in case of long tenure term depositsLarge commercial banks tend to pay a higher interest rates to senior citizens on their fixed deposits (FDs).
The citizens above the age of 60 stand to earn a rate which is higher by 50 basis points, whereas some banks such as Bandhan Bank offers 75 basis points higher to the seniorcitizens.
Most commercial banks such as State Bank of India (SBI), Bank of Barodaand HDFCBank offer 50 basis points higher interest rateagainst the normal FDs.Even small finance banks such as Utkarsh Small Finance Bank and ESAF Small Finance Bank offer a premium of 50 basis points on their fixed deposits (FDs)to senior citizens.SBI FixedDeposit (FD) RatesFor the FDs (fixed deposits) of six month to one year tenure, the rate of interest is 7.55 percent per annum, which surges further to 7.75 percent per annum.
State Bank of India (SBI), on the other hand, offers relatively lower interest rates against Bandhan Bank's FD rates.
For a 211 days to one-year fixed deposit (FD) of SBI, the rate of interest is 6.9 percent per annum, which surges to 7.15 percent.Bandhan BankSixmonths to one year7.55%one year7.75%One year to 2 years8.05%State Bank of India (SBI)211 days to one year6.9%one year to less than two years7.15%Punjab National Bank (PNB)6 months to one year6.85%one year7.1%1-3 years7.25%HDFC Bank6 months five days to less than one year6.9%One year but less than two years7.35%PNB FixedDeposit (FD) RatesPunjab National Bank (PNB) offers interest at the rate of 6.85 percent per annum on an FD of six month tenure to senior citizen depositors.
The one-year tenure FD fetches an interest at the rate of 7.1 percent, while the long duration FD (longer than one year but less than three years) offers an interest rate of 7.25 percent per annum.HDFC FixedDeposit (FD) RatesThe rate of interest on the HDFC fixed deposit with a tenure of six month five days to one year is 6.9 percent.
The one year FD fetches an interest at the rate of 7.35 percent.Bank of Baroda Fixed Deposit (FD) ratesOn the fixed deposits (FDs) of tenure six months to nine months, Bank of Baroda offers a rate of interest of 6.75 percent per annum to senior citizens.
The nine month to less than one year tenure FDs, bank offers interest at the rate of 6.85 percent per annum.
The one year FD fetches an interest rate of 7.1 percent per annum.
Those who want higher rates of interest on the term deposits can also explore the option of small finance banks (SFB) and non-banking financial corporations (NBFC) which offer as high as 9 percent per annum.