As super-senior citizens (80 years and above) often face challenges managing their finances, many banks are offering attractive interest rates on fixed deposits (FDs) to cater to their needs. Not all banks provide higher rates for super-senior citizens, but several leading institutions have stepped forward to offer competitive returns.
Let’s have a look at some of the best options available for those aged 80 and above.
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STATE BANK OF INDIA (SBI)
SBI’s ‘Patrons’ scheme offers an additional 10 basis points (bps) above the senior citizen rates, making it an attractive option for super senior citizens.
The bank provides a top rate of 7.60% for FDs with a tenure of 2 to less than 3 years. This scheme ensures that super senior citizens enjoy enhanced returns on their investments.
PUNJAB NATIONAL BANK (PNB)
PNB offers the highest rate of 8.10% for super senior citizens on a 400-day FD. Super senior citizens get an additional 30 bps over senior citizen FD rates, with the bank offering higher rates for deposits with tenures above five years.
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RBL BANK
RBL Bank leads with a remarkable 8.75% interest rate for super senior citizen FDs with a tenure of 500 days.
Super senior citizens enjoy an extra 0.75% interest rate over the standard senior citizen FD rates. This makes RBL a top choice for those seeking higher returns.
INDIAN BANK
Indian Bank’s special FD scheme for super senior citizens offers 8.05% interest on a 400-day tenure. The bank offers an additional 25 bps on top of senior citizen rates, ensuring that older investors benefit from higher returns.
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UNION BANK OF INDIA
Union Bank of India offers super senior citizens an extra 0.75% on FDs, pushing the interest rate to 8.05% for a 456-day tenure.
The bank’s additional rate is higher than that for senior citizens, reflecting its focus on providing superior benefits to the elderly.
With a variety of attractive options available, super senior citizens can now maximise their returns and secure their savings with the right fixed deposit choice, ensuring a financially stable future.
