This PSU bank offers up to 8.85% FD interest rate; higher than PNB, Union Bank, Indian Bank

Senior citizens receive an additional interest rate over and above what regular citizens get. There are a few banks which offer an even higher interest to super senior citizens. While many banks such as SBI are struggling to touch 8% even for senior citizens, some PSU banks are taking the lead and offering FD interest rates above 8% to senior and super senior citizens.

Here is a look at 4 such PSU banks offering above 8% FD interest rates to super senior citizens.

Punjab & Sind Bank (PSB)

The bank offering the highest fixed deposit interest rate among them is Punjab & Sind Bank (PSB), with rates reaching 8.85%. A super senior citizen will earn up to 8.85% interest rate under the PSB-Utkarsh 222 Days Fixed Deposit Plan, according to information on the PSB's official website.

On deposits made for 222 days, senior citizens and regular depositors can receive interest rates of 8.5 and 8%, respectively.

Also read: This bank is offering 8.85% FD interest rate for senior citizens; offer valid till March 31, 2023

Union Bank of India
For all of its domestic term deposits, Union Bank of India offers resident senior and super senior persons an extra rate on term deposits up to Rs. 5.00 Crores. The additional rate component for resident super senior citizens is 0.75% over and above the standard rate (resident senior citizen rate is 0.25% over and above rate).
For regular citizens, the bank offers highest interest rate of 7.30% on tenure of 800 days, for senior citizen interest rate offered is 7.80% and super senior citizen interest rate offered will be 8.05%.

Punjab National Bank
PNB regular customers will earn an highest interest rate of 7.25% on tenure of 666 days. The interest rate offered is 7.75% to senior citizens and 8.05% to super senior citizens on the same tenure.

Indian Bank
The bank offers 0.50% higher interest rates for senior citizens and an additional 0.25% higher rate of interest over & above the additional rate (0.50+0.25 = 0.75) for deposit bucket “above 5 Years up to 10 Years”.

Also read: Indian Bank hikes FD interest rate; launches special FD scheme offering higher interest rate to women

For super senior citizens, the bank offers an additional 0.25% higher rate of interest over & above the additional rate that is presently being offered for normal Senior Citizen on Term Deposit for all deposit buckets.

Indian Bank offers highest interest rate of 6.70% to regular citizens on tenure of 2 years to less than 3 years. For senior citizens, the bank offers 7.2% and 7.45% for super senior citizens.

IND SUPER 400 DAYS
Ind super 400 days term deposit is valid till April 30, 2023. Under this deposit, the bank offers 7.60% to senior citizens and 7.85% to super senior citizens.

IND SHAKTI 555 DAYS
Under this deposit scheme, the bank offers 7.50% to senior citizens and it is valid up to March 31, 2023.