Senior citizen FD interest rates: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Canara Bank vs Yes Bank

Apart from the higher interest rate, which can be up to 0.50-0.75% over and above what is offered to the general public, fixed deposit accounts for seniors have a number of other advantages. Individuals who wish to invest in a senior citizen fixed deposit should be above the age of 60 years at the time of opening the FD.

Senior citizens fixed deposit interest rates vary depending on the bank, amount and tenure. Here is a comparison of top banks such as SBI, HDFC Bank, ICICI Bank, PNB, Canara Bank, Yes Bank, to see who is offering the best rate on which tenure.

Also read: Highest FD interest rates: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Canara Bank


SBI
State Bank of India offers interest rates between 3.50% to 7.50% for tenures ranging from 7 days to 10 years. The highest interest rate of 7.50% is offered on tenure of 2 years to less than 3 years and 5 years and up to 10 years (including SBI WeCare). The bank also offers special FD Amrit kalash with 7.60% interest for senior citizens which is valid up to June 30, 2023.

HDFC Bank
HDFC Bank offers interest rates between 3.50% to 7.60% for tenures ranging from 7 days to 10 years. The highest interest rate of 7.60% is offered for tenure of 15 months to less than 18 months.

ICICI Bank
ICICI Bank offers interest rates between 3.50% to 7.60% for tenures ranging from 7 days to 10 years. The highest interest rate of 7.60% is offered for tenure of 15 months to less than 2 years.

Yes Bank
Yes Bank offers interest rates between 3.75% to 8% for tenures ranging from 7 days to 10 years. The highest interest rate of 7.60% is offered for tenure of 15 months to less than 36 months. On a special FD of 35 months, the bank offers an interest rate of 8.25% to senior citizens.

PNB
PNB offers interest rates between 4% to 7.75% for tenures ranging from 7 days to 10 years for senior citizens. The highest interest rate of 7.75% is offered for tenure of 666 days. For super senior citizens, the interest rate offered is 8.05% on 666 days tenure.

Canara Bank
Canara Bank offers interest rates between 4% to 7.75% for tenures ranging from 7 days to 10 years for senior citizens. The highest interest rate of 7.75% is offered for tenure of 444 days.

Bank	Highest Interest rate	Tenure
SBI	7.50%	2 years > 3 years
HDFC Bank	7.60%	15 months to < 18 months
ICICI Bank	7.60%	15 months to < 2 years
Yes Bank	8.00%	15 months to < 35 months
	8.25%	35 months
PNB	7.75%	Senior citizen- 666 days
	8.05%	Super senior citizen- 666 days
Canara Bank	7.75%	444 days

Source: Bank website