Senior citizens can get up to 8.1% interest on fixed deposits (FDs) maturing in three years in public and private sector banks. The interest is available on FDs of up to Rs 2 crore.
Senior citizens who are interested in investing in FDs should now make the most of the high-interest rate of FDs prevailing in the market.
Here's a list of highest FD interest rate for senior citizens in three years offered by various banks:
DCB Bank offers 8.1% on senior citizen FDs
DCB Bank offers an interest rate of 8.1% on FDs maturing between 26 months and less than 37 months to senior citizens.
RBL Bank senior citizen FD rate
RBL Bank offers an interest rate of 8% on its FDs maturing between 24 months one day and 36 months to senior citizens.
YES Bank Senior Citizen FD rate
Private sector lender YES Bank is also offering an interest rate of 8% on senior citizen FDs maturing between 36 months and less than 60 months.
Bandhan Bank Senior Citizen FD rate
An interest rate of 7.75% is being offered by Bandhan Bank to senior citizens for FDs maturing between three years and less than five years.
Bank of Baroda Senior Citizen FD rate
Bank of Baroda offers an interest rate of 7.75% on senior citizen FDs maturing between more than two years and up to three years.
IDFC Bank Senior Citizen FD rate
IDFC Bank offers an interest rate of 7.75% on senior citizen FDs maturing between two years one day and three years.
IndusInd Bank Senior Citizen FD rate
IndusInd Bank offers an interest rate of 7.75% on senior citizen FDs maturing between two years 9 months and three years three months.
| Bank Name | Interest Rate |
| DCB Bank | 8.10% |
| RBL Bank | 8% |
| YES Bank | 8% |
| Bandhan Bank | 7.75% |
| Bank of Baroda | 7.75% |
| IDFC Bank | 7.75% |
| IndusInd Bank | 7.75% |
| Axis Bank | 7.60% |
| Kotak Mahindra Bank | 7.60% |
| Punjab National Bank | 7.50% |
| HDFC Bank | 7.50% |
| ICICI Bank | 7.50% |
Source: Paisabazaar.com As on April 7, 2024
Axis Bank Senior Citizen FD rate
Axis Bank offers an interest rate of 7.6% on FDs maturing between three years and less than five years to senior citizens.
Kotak Mahindra Bank Senior Citizen FD rate
Kotak Mahindra Bank offers an interest rate of 7.6% on senior citizen FDs maturing in three years.
Punjab National Bank Senior Citizen FD rate
Punjab National Bank offers an interest rate of 7.5% on senior citizen FDs maturing between more than two years and up to three years.
HDFC Bank Senior Citizen FD rate
HDFC Bank offers an interest rate of 7.5% FDs maturing between two years 11 months one day and three years if senior citizens are investing in them.
ICICI Bank Senior Citizen FD rate
ICICI Bank offers an interest rate of 7.5% on senior citizen FDs maturing between more than two years and three years.
It must be noted that interest on FDs of three-year tenure, as cited above is taxable for all taxpayers. Further banks will deduct tax deducted at source (TDS) if the interest earned on FDs exceeds a specified threshold. However, individuals can submit form 15G/H so that TDS is not deducted.
