Up to 8.5% FD interest rate: 6 PSU banks offering best senior citizen FD interest rates

Public sector banks are nationalised banks that are run by the government. Many risk-averse senior citizen investors invest in government-backed banks’ fixed deposits (FD).

Here is a list of top government banks offering best FD interest rates for senior citizens.

Bank of Baroda

Bank of Baroda offers interest rates between 3.50% to 7.55% for amounts below Rs 2 crore and tenure ranging between 7 days to 10 years. According to the website, “Additional 30bps over & above 50bps being paid to Senior Citizens for Retail Term Deposits of tenor Above 5 Years to 10 years has been increased to 50bps as per ALCO Meeting deliberations dated 22.12.2022 and accordingly will be paid 100bps (50bps+50bps) w.e.f. 26.12.2022 (Fresh & Renewals).”

Bank of Baroda FD rates for senior citizens
Tenors	Resident Indian Sr. Citizen
7 days to 14 days	3.50
15 days to 45 days	3.50
46 days to 90 days	5.00
91 days to 180 days	5.00
181 days to 210 days	5.75
211 days to 270 days	6.25
271 days & above and less than 1 year	6.25
1 year	7.25
Above 1 year to 400 days	7.25
Above 400 days and upto 2 Years	7.25
Above 2 Years and upto 3 Years	7.25
Above 3 Years and upto 5 Years	6.90
Above 5 Years and upto 10 Years	7.25
Above 10 years (MACT/MACAD	6.75
Court Order schemes only)
444 Days (Baroda Tiranga Deposit Scheme)***	7.25
555 Days (Baroda Tiranga Deposit Scheme)	7.25
399 Days (Baroda Tiranga Plus Deposit Scheme)	7.55

Also read: Senior Citizens FDs: These 10 banks offer best fixed deposit interest rates for senior citizens

State Bank of India
State Bank of India offers interest rates between 3.50% to 7.50% on fixed deposits for senior citizens. The highest interest rate of 7.50% is offered on tenure of 2 years to less than 3 years.
SBI has launched special 400 days deposit called Amrit Kalash, offering highest interest rate of 7.60% to senior citizens.

SBI FD rates for senior citizens
Tenors	Rates
7 days to 45 days	3.5
46 days to 179 days	5
180 days to 210 days	5.75
211 days to less than 1 year	6.25
1 Year to less than 2 years	7.3
2 years to less than 3 years	7.5
3 years to less than 5 years	7
5 years and up to 10 years	7.50@
400 days (Special Scheme i.e. “ Amrit Kalash”)	7.6

Punjab National Bank
PNB offers interest rate between 4% to 7.75% for amounts below Rs 2crore and for tenure ranging between 7 days to 10 years for senior citizens. For super senior citizens, interest rate vary between 4.30% to 8.05%. Highest interest rate of 7.75% and 8.05% is offered on tenure of 666 days.

PNB FD rates for senior and super senior citizens
Period	Rates For Senior Citizens	Rates For Super Senior Citizens
7 to 14 days	4	4.3
15 to 29days	4	4.3
30 to 45 days	4	4.3
46 to 90 days	5	5.3
91 to 179 days	5	5.3
180 days to 270 Days	6	6.3
271 days to less than 1 year	6.3	6.6
1 year	7.3	7.6
above 1 year to 665 days	7.3	7.6
666 days	7.75	8.05
667 days to 2 years	7.3	7.6
above 2 year & upto 3 years	7.5	7.8
above 3 year & upto 5 years	7	7.3
above 5 years & upto 10 years	7.3	7.3

Canara Bank
Canara Bank offers interest rate between 3.25% to 7.65% for amounts below Rs 2crore and for tenure ranging between 7 days to 10 years for senior citizens. The highest rate is offered on tenure of 400 days.

Term Deposits (All Maturities)	Senior Citizen
	Rate of Interest (% p.a.) #
7* Days to 45 Days	3.25
46 Days to 90 Days	4.5
91 Days to 179 Days	4.5
180 Days to 269 Days	6
270 Days to less than 1 Year	6
1 Year only	7.25
Above 1 Year to less than 2 Years	7.3
400 DAYS	7.65
666 Days	7.5
2 Years & above to less than 3 Years	7.3
3 Years & above to less than 5 Years	7
5 Years & above to 10 Years.	7

Punjab & Sind Bank
Punjab & Sind Bank offers interest rate between 3.3% to 7.25 for senior citizens for tenure ranging from 7 days to 10 years. The bank also offered curated fixed deposits where the highest interest rate that can be earned is 8.50% for senior citizens and 8.85% for super senior citizens.

Curated fixed deposit scheme

Curated FD interest rates
EXTRA RATE OF INTEREST-DEPOSIT SCHEME	THROUGH BRANCH	THROUGH ONLINE MODE
PSB-UTKARSH 222 DAYS FIXED DEPOSIT SCHEME	Normal - 7.75 %	Normal - 8.00 %
	Senior CTZ - 8.25 %	Senior CTZ - 8.50 %
	Super Sr CTZ - 8.60 %	Super Sr. CTZ - 8.85 %
PSB FABULOUS 300 DAYS FIXED DEPOSIT SCHEME	Normal - 7.50 %	Normal - 7.75 %
	Senior CTZ - 8.00 %	Senior CTZ - 8.25 %
	Super Sr CTZ - 8.35 %	Super Sr. CTZ - 8.60 %
PSB FABULOUS PLUS 601 DAYS FIXED DEPOSIT SCHEME	Normal - 7.00 %	Normal - 7.00 %
	Senior CTZ - 7.50 %	Senior CTZ - 7.50 %
	Super Sr. CTZ - 7.85%	Super Sr. CTZ - 7.85%
PSB e-ADVANTAGE 601 DAYS FIXED DEPOSIT SCHEME		Normal - 7.25%
	Available online only.	Senior CTZ - 7.75%
		Super Sr. CTZ - 8.10%

Union Bank of India
Union Bank of India offers interest rate between 3.5% to 7.80% for senior citizens for tenure ranging from 7 days to 10 years. For super senior citizens, the bank offers o.25% higher than senior citizen rate slabs, so highest interest rate will be 8.05%. According to the Union Bank of India website, “The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizen). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.”

Period	Revised Interest Rate regular citizen
7-14 Days	3
15 -30 Days	3
31-45 Days	3
46 -90 Days	4.05
91-120 Days	4.3
121-180 Days	4.4
181 Days to <1 Year	5.25
1 Year	6.3
>1 Year to 598 Days	6.30*
599 Days	7
600 Days to 699 days	6.30*
700 days	7.25*
>700 days to 2 year	6.30*
> 2 year to 799 days	6.30*
800 days	7.30*
801 days to less than 3 Year	6.30*
3 years	7.30*
>3 Year to 5 Years	6.7
>5 Years to 10 Years	6.7