These banks offer higher FD interest rates for super senior citizens Depending on the bank, the increased rates range from 0.50 to 0.75 basis points (bps)
Senior citizens are those residents who are 60 years of age or older. A resident who qualifies as a super senior citizen must have been at least 80 years old at some point in the previous year.Most banks give senior citizens higher fixed deposit (FD) interest rates compared to FD rates for regular investors. However, some banks provide super senior citizen clients with greater interest rates. Depending on the bank, the increased rates range from 0.50 to 0.75 basis points (bps).
Here is a list of banks offering higher interest rates to super senior citizens and the interest rates offered to them.
RBL Bank super senior citizen fixed deposit
Senior citizens earn an extra 0.50% p.a. in interest if they are between the ages of 60 and under 80. 80 and Super Senior Citizens are entitled for a preferred interest rate of 0.25% higher than senior citizens per year for all tenures. The bank currently provides super senior citizens 8.55% and senior citizens with 8.30% interest rate. The rates are valid from June 1, 2023.You Might Also Like:
Latest senior citizen bank fixed deposit (FD) interest rates in India for 2023
Union Bank of India super senior citizen fixed deposits
If senior citizens are entitled for a 0.50% higher interest rate then senior citizens will earn a 0.75% higher interest rate.The bank offers the highest interest rate of 7.50% to senior citizens and 7.75% to super senior citizens.
As per 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.”
PNB super senior citizen fixed deposits
According to the PNB website, “ Super Senior Citizens of age 80 years and above shall get additional rate of interest of 80bps over applicable card rate across all maturity buckets.”Super Senior Citizens who are 80 years of age or older will receive an 80bps higher interest rate than the corresponding card rate for all maturity buckets. The highest interest rate offered to senior citizen id 8.10% on tenure of 444 days.
Indian Bank super senior citizen fixed deposits
According to the Indian Bank website, “IB – Golden Ager” – A Special Term Deposit Account for Super Senior Citizen” (Age 80 years and above) is offering 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.”
The bank offers the highest interest rate on special deposits dubbed as IND SUPER 400 DAYS. It offers an interest rate of 8% to super senior citizens and 7.75% to senior citizens. Under IND SUPREME 300 DAYS, the bank offers 7.80 % interest rate to super senior citizens. For senior citizens, it offers 7.55 % This offer will end on August 31, 2023.
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This story originally appeared on: India Times - Author:Faqs of Insurances
