INSUBCONTINENT EXCLUSIVE:
Top banks provide slightly better returns on FDs to senior citizens compared to the general publicMajor banks in the country pay slightly
higher returns to senior citizens than the general public on fixed income instruments such as term or fixed deposits (FD)
Today, top commercial banks - from state-run SBI, Punjab National Bank and Bank of Baroda to private sector peers ICICI Bank and HDFC Bank -
provide a return of 3.5-8.15 per cent to senior citizens on fixed deposits up to Rs 1 crore
Investment in bank FD of the same category fetches interest at the rate of 3.5-7.5 per cent for the general public.State Bank of India (with
210 days6.35%6.85%211 days to less than 1 year6.40%6.90%1 year to less than 2 year6.70%7.20%2 years to less than 3 years6.75%7.25%3 years to
less than 5 years6.80%7.30%5 years and up to 10 years6.85%7.35%(Source: sbi.co.in)ICICI Bank (with effect from November 15,
days6%6.5%61 days to 90 days6.25%6.75%91 days to 120 days6.25%6.75%121 days to 184 days6.25%6.75%185 days to 289 days6.5%7%290 days to less
than 1 year6.75%7.25%1 year to 389 days6.9%7.4%390 days to 2 years7.1%7.6%2 years 1 day upto 3 years7.5%8%3 years 1 day upto 5
years7.25%7.75%5 years 1 day upto 10 years7%7.5%5 Years Tax saver FD(Max upto Rs
days3.50%4.00%15 - 29 days4.25%4.75%30 - 45 days5.75%6.25%46 - 60 days6.25%6.75%61 - 90 days6.25%6.75%91 days - 6 months6.25%6.75%6 mnths 1
day- 6 mnths 3 days6.75%7.25%6 mnths 4 days6.75%7.25%6 mnths 5 days- 9 mnths6.75%7.25%9 mnths 1 day- 9 mnths 3 days7.10%7.60%9 mnths 4
days7.10%7.60%9 months 5 days - 9 months 15 days7.10%7.60%9 months 16 days7.10%7.60%9 months 17 days < 1 Year7.10%7.60%1 Year7.30%7.80%1
year 1 day - 1 year 3 days7.30%7.80%1 year 4 days7.30%7.80%1 year 5 days - 1 Year 15 Days7.30%7.80%1 Year 16 days7.30%7.80%1 year 17 days -
years7.25%7.75%5 Years 1 Day - 8 Years6.50%7.00%8 Years 1 Day - 10 Years6.50%7.00%(Source: hdfcbank.com)Axis Bank (with effect from November
14, 2018)TermInterest rateGeneral publicSenior citizen7 days to 14 days3.50%3.50%15 days to 29 days3.50%3.50%30 days to 45 days5.50%5.50%46
days to 60 days6.25%6.25%61 days < 3 months6.25%6.25%3 months < 4 months6.25%6.25%4 months < 5 months6.25%6.25%5 months < 6
months6.25%6.25%6 months < 7 months6.75%7.00%7 months < 8 months6.75%7.00%8 months < 9 months6.75%7.00%9 months < 10 months7.10%7.35%10
months < 11 months7.10%7.35%11 months < 1 year7.10%7.35%1 year < 1 year 5 days7.30%7.95%1 year 5 days < 1 year 11 days7.30%7.95%1 year 11
days < 13 months7.30%7.95%13 months < 14 months7.35%8.00%14 months < 15 months7.30%7.95%15 months < 16 months7.30%7.95%16 months < 17
months7.30%7.95%17 months < 18 months7.30%7.95%18 Months < 2 years7.30%7.95%2 years < 30 months7.50%8.15%30 months < 3 years7.50%8.00%3
years < 5 years7.25%7.75%5 years to 10 years7%7.50%(Source: axisbank.com)Punjab National Bank (with effect from November 1,
rate7 days to 14 days4.50%15 days to 45 days4.75%46 days to 90 days5.00%91 days to 180 days5.75%181 days to 270 days6.50%271 days above and
less than 1 year6.50%1 year6.70%Above 1 year to 400 days6.85%Above 400 days and up to 2 Years6.80%Above 2 Years and up to 3 Years6.70%Above
3 Years and up to 5 Years6.70%Above 5 Years and up to 10 Years6.70%(Source: bankofbaroda.com)"Branches may continue to pay an additional
interest of 0.50 per cent on domestic term deposits of less than Rs
1.00 crore from senior citizens for all tenors in terms of extant guidelines," state-run Bank of Baroda mentioned on its website.
