Senior Citizen Long-Term Fixed Deposit Interest Rates: There is not much change in long-term deposits of 5 to 10 years this year.
Senior Citizen Long-Term Fixed Deposit Interest Rates: While senior citizen fixed deposit rates of various tenors have gone up this year, there is not much change in long-term deposits of 5 to 10 years. A comparison of FD rates offered to senior citizens by 12 banks listed on the Nifty Bank Index shows that five banks, including SBI, Bank of Baroda and ICICI Bank, are offering 7.5% interest to senior citizens on deposits of 5 to 10 years.
Read More: Pension To Insurance, Know The Govt Schemes That Cater To Your Varying Needs
HDFC Bank is currently offering the highest interest rate of 7.75% to senior citizens on long-term fixed deposits, followed by AU Small Finance Bank (7.71), which is also listed on the Nifty Bank Index. AU Bank is also the only Small Finance Bank listed on the index. As many as two banks listed on the index are offering less than 7% Fixed Deposit interest rate to senior citizens on long-term deposits of 5 to 10 years.
The following is the list of banks on the index and interest rates offered by them to senior citizens on 5 to 10 years term deposits of less than Rs 2 crore.
HDFC Bank
HDFC Bank is offering 7.75% interest rate to senior citizens on deposits of 5 years 1 day to 10 years.
State Bank of India
State Bank of India is offering 7.5% interest rate to senior citizens on deposits of 5 years to 10 years.
Read More: What Are Index Funds? All You Need To Know About These Mutual Funds
AU Small Finance Bank
AU Small Finance Bank is offering 7.71% interest rate to senior citizens on deposits of 5 years day to 10 years.
Axis Bank
Axis Bank is offering 7% interest rate to senior citizens on deposits of 5 years day to 10 years.
Bandhan Bank
Bandhan Bank is offering 6.6% interest rate to senior citizens on deposits of 5 years to 10 years.
Bank of Baroda
Bank of Baroda is offering 7.5% interest rate to senior citizens on deposits of 5 years to 10 years.
Federal Bank
Federal Bank is offering 7.25% interest rate to senior citizens on deposits of 5 years to 10 years.
Read More: Looking For A Personal Loan? Know The Factors That Affect The Interest Rate
ICICI Bank
ICICI Bank is offering 7.5% interest rate to senior citizens on deposits of 5 years 1 day to 10 years.
IDFC First Bank
IDFC First Bank is offering 7.5% interest rate to senior citizens on deposits of 5 years 1 day to 10 years.
IndusInd Bank
IndusInd Bank is offering 7.5% interest rate to senior citizens on deposits of 5 years 1 month and to 10 years.
Punjab National Bank
Punjab National Bank is offering 7.3% interest rate to senior citizens and super senior citizens on deposits of above 5 years and up to 10 years.
Kotak Mahindra Bank
Kotak Mahindra Bank is offering 6.7% interest rate to senior citizens on deposits of 5 years to 10 years.
Disclaimer: The above interest rates are based on the information available on respective bank websites as of June 27, 2023. Please contact the bank for latest interest rates as they are subject to change.
