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    Fixed deposit for senior citizens: Latest FD interest rates offered by SBI, HDFC Bank and ICICI Bank

    Fixed deposit for senior citizens: Latest FD interest rates offered by SBI, HDFC Bank and ICICI Bank

    Fixed deposit for senior citizens: Latest FD interest rates offered by SBI, HDFC Bank and ICICI Bank
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    By Anshul   IST (Published)

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    Fixed deposits or FDs are secure investment instruments that offer higher interest rates than deposits in savings accounts.

    Fixed deposits or FDs are secure investment instruments that offer higher interest rates than deposits in savings accounts. These are offered by public and private sector banks, small finance banks as well as non-banking finance companies (NBFCs).
    Lenders provide a range of maturity options to retail customers for setting up fixed deposits.
    The interest rates offered on FDs are subject to change from time to time, which also varies from bank to bank. Senior citizens usually get a higher rate of interest on fixed deposits compared to the general public.
    Here's a comparison of FD interest rates offered by some of the key banks for senior citizens:
    SBI Fixed Deposit Rates
    State Bank of India (SBI) offers the following FD interest rates on deposits below Rs 2 crore for senior citizens:
    TenorsInterest rates for senior citizens
    7 days to 45 days3.40%
    46 days to 179 days4.40%
    180 days to 210 days4.90%
    211 days to less than 1 year4.90%
    1 year to less than 2 year5.50%
    2 years to less than 3 years5.60%
    3 years to less than 5 years5.80%
    5 years and up to 10 years6.20%
    (Source: sbi.co.in)
    HDFC Bank Fixed Deposit Rates
    HDFC Bank offers the following FD interest rates on deposits below Rs 2 crore for senior citizens:
    TenorsInterest rates for senior citizens
    7 - 14 days3.00%
    15 - 29 days3.00%
    30 - 45 days3.50%
    46 - 60 days3.50%
    61 - 90 days3.50%
    91 days - 6 months4.00%
    6 mnths 1 days - 9 mnths4.90%
    9 mnths 1 day < 1 Year4.90%
    1 Year5.40%
    1 year 1 day - 2 years5.40%
    2 years 1 day - 3 years5.65%
    3 year 1 day- 5 years5.80%
    5 years 1 day - 10 years6.25%
    (Source: hdfcbank.com)
    ICICI Bank Fixed Deposit Rates
    ICICI Bank offers the following FD interest rates on deposits below Rs 2 crore for senior citizens:
    TenorsInterest rates for senior citizens
    7 days to 14 days3.00%
    15 days to 29 days3.00%
    30 days to 45 days3.50%
    46 days to 60 days3.50%
    61 days to 90 days3.50%
    91 days to 120 days4.00%
    121 days to 184 days4.00%
    185 days to 210 days4.90%
    211 days to 270 days4.90%
    271 days to 289 days4.90%
    290 days to less than 1 year4.90%
    1 year to 389 days5.40%
    390 days to < 18 months5.40%
    18 months to 2 years5.50%
    2 years 1 day to 3 years5.65%
    3 years 1 day to 5 years5.85%
    5 years 1 day to 10 years6.30%
    5 Years (80C FD) – Max to ₹ 1.50 lac5.85%
    (Source: icicibank.com)
    Additionally, several banks have also introduced a special FD scheme to safeguard the interests of senior citizens. These schemes are available only till March 2021. These schemes offer extra interest rates over the existing rates on fixed deposits (FD) applicable for senior citizens.
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