Senior Citizen Bank FD Scheme : In today’s time, Fixed Deposits (FDs) are considered one of the safest and most reliable investment options. That’s why a large number of people are now choosing to invest their savings in FDs. Many banks in India are currently offering attractive interest rates on FDs, especially for senior citizens. In fact, one of the leading banks in the country is offering senior citizens up to ₹26,000 in interest on an FD of ₹1 lakh. Let’s explore the full details below.
Why FD is a Popular Investment Option
People generally want to grow their savings by investing in options that offer good returns with minimal risk. FD is one such investment option that ensures safety and guaranteed returns. Unlike market-linked instruments, FDs are not affected by market fluctuations, making them ideal for both young and senior investors.
Due to its reliability, many senior citizens are now preferring to invest in FDs. Several banks are offering special higher interest rates to senior citizens to help them earn more from their deposits.
Senior Citizen Bank FD Scheme : Bank of Baroda Offering Attractive FD Rates
Bank of Baroda (BOB) is currently offering a very attractive interest rate of 7.75% per annum on fixed deposits for senior citizens.
If a senior citizen invests ₹1 lakh for a 3-year tenure, they can receive ₹1,26,000 on maturity.
That means a total interest of ₹26,000, making this one of the most rewarding FD options for senior citizens.
Axis Bank FD Benefits for Senior Citizens
Axis Bank is also offering impressive returns to senior citizens. The bank provides an interest rate of 7.60% per annum on a 3-year FD.
If a senior citizen invests ₹1 lakh, they can earn approximately ₹25,000 as interest, receiving ₹1.25 lakh on maturity.
This makes Axis Bank’s FD scheme another good option for those looking for stable and high returns.
HDFC, ICICI, and PNB FD Interest Rates
Top private and public sector banks like HDFC Bank, ICICI Bank, and Punjab National Bank (PNB) are also offering competitive interest rates to senior citizens.
These banks currently provide 7.50% interest on a 3-year FD.
If you invest ₹1 lakh in any of these banks, you can expect a maturity value of approximately ₹1.25 lakh after three years.
SBI FD Interest Rates for Senior Citizens
State Bank of India (SBI), the country’s largest public sector bank, is also offering good interest rates on FDs for senior citizens.
For a 3-year FD of ₹1 lakh, SBI is providing an interest rate of 7.25% per annum.
At this rate, a senior citizen can earn ₹24,000 in interest, receiving ₹1.24 lakh on maturity.
Indian Bank FD Rates for Senior Citizens
Indian Bank is currently offering an interest rate of 6.75% per annum on a 3-year FD for senior citizens.
If you invest ₹1 lakh, you’ll receive around ₹1.22 lakh on maturity.
Though the returns are slightly lower compared to other banks, Indian Bank still provides a safe and reliable investment option.
Bank of India FD for Senior Citizens
Bank of India offers 7.00% interest per annum on a 3-year FD of ₹1 lakh.
At maturity, a senior citizen can earn approximately ₹23,000 in interest, making the total amount ₹1.23 lakh.
Union Bank of India FD Interest Rates
Union Bank of India is also offering 7.00% interest per annum for senior citizens on a 3-year FD.
If a senior citizen invests ₹1 lakh, they will receive ₹1.23 lakh on maturity, including ₹23,000 as interest.
Canara Bank FD Interest Rates for Senior Citizens
Canara Bank provides senior citizens an interest rate of 7.30% on a 3-year FD of ₹1 lakh.
With this rate, they can earn around ₹24,000 in interest, receiving ₹1.24 lakh on maturity.
Final Words
FDs continue to be a safe, stable, and predictable investment choice, especially for senior citizens who prefer guaranteed returns without market risks.
Among all the banks listed, Bank of Baroda currently offers the highest return — about ₹26,000 interest on a ₹1 lakh deposit for 3 years.
However, senior citizens should also consider factors like liquidity, early withdrawal charges, and tax benefits before finalizing an FD scheme.
FDs remain one of the best financial instruments for secure and risk-free income, making them ideal for retirees looking for steady earnings and financial safety.