Fixed Deposit for Senior Citizens as on Mar 2019

Senior Citizens (aged 60 years or more) are offered a higher fixed deposit interest rates as compared to general public. They usually earn 0.25% to 0.75% higher interest compared to regular deposit rates for tenures ranging between 6 months to 10 years. All the resident and NRI senior citizens of 60 years or above are eligible to open Senior Citizen fixed deposit account with the banks.

To assist you to select the best bank for making FD investment, we are providing following table which shows interest rates offered by different banks to senior citizens for a period of 12 months. You can click on "FD Interest Rates" button against a particular bank FD interest rates of all the tenures offered by that bank.

Bank Interest Rates List For Senior Citizens Mar 2019

Bank NameInterest (1 Year)Find FD Interest
Equitas Small Finance Bank Limited9.25%Find All FD Interest Rates
Esaf Small Finance Bank Limited9.25%Find All FD Interest Rates
North East Small Finance Bank Limited9.00%Find All FD Interest Rates
Suryoday Small Finance Bank9.00%Find All FD Interest Rates
Utkarsh Small Finance Bank9.00%Find All FD Interest Rates
Ujjivan Small Finance Bank Limited8.80%Find All FD Interest Rates
Rbl Bank Limited8.50%Find All FD Interest Rates
Fincare Small Finance Bank Ltd8.50%Find All FD Interest Rates
Indusind Bank8.50%Find All FD Interest Rates
The Nainital Bank Limited8.40%Find All FD Interest Rates
Laxmi Vilas Bank8.20%Find All FD Interest Rates
Capital Small Finance Bank Limited8.15%Find All FD Interest Rates
Bandhan Bank Limited8.10%Find All FD Interest Rates
Karnataka Bank Limited8.00%Find All FD Interest Rates
Axis Bank7.95%Find All FD Interest Rates
Tamilnad Mercantile Bank Limited7.90%Find All FD Interest Rates
Standard Chartered Bank7.90%Find All FD Interest Rates
Federal Bank7.80%Find All FD Interest Rates
Kotak Mahindra Bank Limited7.80%Find All FD Interest Rates
Hdfc Bank7.80%Find All FD Interest Rates
Jammu And Kashmir Bank Limited7.80%Find All FD Interest Rates
Idbi Bank7.75%Find All FD Interest Rates
Yes Bank7.75%Find All FD Interest Rates
Karur Vysya Bank7.75%Find All FD Interest Rates
Dhanalakshmi Bank7.50%Find All FD Interest Rates
Punjab And Sind Bank7.50%Find All FD Interest Rates
Dcb Bank Limited7.50%Find All FD Interest Rates
City Union Bank Limited7.50%Find All FD Interest Rates
Idfc Bank Limited7.50%Find All FD Interest Rates
Au Small Finance Bank Limited7.50%Find All FD Interest Rates
Canara Bank7.50%Find All FD Interest Rates
Dbs Bank Ltd7.50%Find All FD Interest Rates
Chinatrust Commercial Bank Limited7.40%Find All FD Interest Rates
South Indian Bank7.40%Find All FD Interest Rates
Icici Bank Limited7.40%Find All FD Interest Rates
Vijaya Bank7.30%Find All FD Interest Rates
State Bank Of Bikaner And Jaipur7.30%Find All FD Interest Rates
State Bank Of India7.30%Find All FD Interest Rates
State Bank Of Mysore7.30%Find All FD Interest Rates
State Bank Of Patiala7.30%Find All FD Interest Rates
State Bank Of Travancore7.30%Find All FD Interest Rates
Indian Bank7.25%Find All FD Interest Rates
Union Bank Of India7.25%Find All FD Interest Rates
Punjab National Bank7.25%Find All FD Interest Rates
Bank Of Baroda7.20%Find All FD Interest Rates
Syndicate Bank7.20%Find All FD Interest Rates
Bank Of India7.15%Find All FD Interest Rates
Corporation Bank7.15%Find All FD Interest Rates
Indian Overseas Bank7.10%Find All FD Interest Rates
Andhra Bank7.10%Find All FD Interest Rates
Bank Of Maharashtra7.00%Find All FD Interest Rates
Oriental Bank Of Commerce7.00%Find All FD Interest Rates
Catholic Syrian Bank Limited7.00%Find All FD Interest Rates
Citi Bank6.75%Find All FD Interest Rates
Allahabad Bank6.75%Find All FD Interest Rates
Uco Bank6.60%Find All FD Interest Rates
Central Bank Of India6.60%Find All FD Interest Rates
United Bank Of India6.50%Find All FD Interest Rates
United Bank Of India6.50%Find All FD Interest Rates
Deustche Bank6.50%Find All FD Interest Rates
Hsbc Bank5.50%Find All FD Interest Rates

There are many investment options which are safe and secured like Public Provident Fund (PPF), National Pension Scheme (NPS), EPF, NSC, Bank FD, Bank RD, etc. Bank Fixed Deposit is one of the safe and secured instruments to invest into that offers attractive rate of interest. Easy to open, higher rate of returns, availability of loan and flexibility to withdraw funds when needed are some of the major benefits of Fixed Deposit. Unlike shares, the returns on FD are not related to any market fluctuations hence remain fixed. Banks also offer Recurring Deposit Facility.

Fixed Deposit Account with any bank can be opened easily through a number of channels like Internet (online), Phone Banking or simply by visiting the bank branch.

The interest earned on bank FD can be availed in following 2 ways:

(1) Traditional Plan: Interest is paid on monthly or quarterly basis as required by you.

(2) Reinvestment Plan: Interest is compounded quarterly and reinvested with the principal amount. The interest is paid along with the principal at the time of maturity.

Bank FD is considered to be a beneficial investment option for Senior Citizens due to following reasons:

  • Bank FD is low risk option
  • It generates a fixed return which is very essential for the financial health of senior citizens
  • It is designed to provide financial security to aged people
  • It offers better interest rates to senior citizens
  • It can also become an additional source of income for retired persons
  • There is no upper cap on investment hence senior citizens can invest their life-savings in bank FDs and get safe & fixed returns

Upcoming Bank Holidays

2019 April 01 is a bank holiday in Andaman And Nicobar Island due to Annual Closing Of Bank Accounts.
2019 April 01 is a bank holiday in Bihar due to Yearly Closing Of Bank Accounts.
2019 April 01 is a bank holiday in Daman And Diu due to Annual Closing Of Bank Account.
2019 April 01 is a bank holiday in Goa due to Yearly Closing Of Bank Account.
2019 April 05 is a bank holiday in Andhra Pradesh due to Babu Jagjivan Ram's Birthday.
2019 April 06 is a bank holiday in Goa due to Gudi Padava.

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