Super senior citizen FD rates: Not all banks provide higher interest rates on FDs for super senior citizens, as they often offer the same rates as those on fixed deposits for senior citizens

SBI offers 10 bps higher interest rate on super senior citizen FDs than senior citizens FDs; check banks with high interest rates However, some banks, including RBL Bank, Union Bank of India, Indian Bank, and Punjab National Bank (PNB) offer higher rates for super senior citizen FDs

The State Bank of India (SBI) has introduced a new fixed deposit scheme called ‘SBI Patrons’ for super senior citizens (those aged 80 years and above), offering an additional 10 basis points (bps) above the rates applicable to senior citizens. Not all banks provide higher interest rates on FDs for super senior citizens, as they often offer the same rates as those on fixed deposits for senior citizens.

ET Year-end Special Reads

Buying a home in 2025? Here's how property market can shape up
18 top stock picks for 2025 from 6 leading brokers
Five big bangs that shook the corporate world in 2024
However, some banks, including RBL Bank, Union Bank of India, Indian Bank, and Punjab National Bank (PNB) offer higher rates for super senior citizen FDs.

Here’s a comparison of high interest rates on FDs being offered by these banks:

SBI Patron FD for super senior citizens

According to the SBI website, “Under ‘SBI Patrons’ scheme, super senior citizens will be offered interest rate of 10 bps above the card rates applicable for senior citizens.” The bank offers the highest interest rate of 7.60% for super senior citizen FDs on tenure of 2 years to less than 3 years.

SBI Patron FD scheme for super senior citizens: How super senior citizens can avail higher interest rates on fixed deposits

Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Performance Marketing for eCommerce Brands
By - Zafer Mukeri, Founder- Inara Marketers
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
A2Z Of Money
By - elearnmarkets, Financial Education by StockEdge
Marketing
Modern Marketing Masterclass by Seth Godin
By - Seth Godin, Former dot com Business Executive and Best Selling Author
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Strategy
Succession Planning Masterclass
By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital Marketing Masterclass by Pam Moore
By - Pam Moore, Digital Transformation and Social Media Expert
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Data Science
SQL Server Bootcamp 2024: Transform from Beginner to Pro
By - Metla Sudha Sekhar, IT Specialist and Developer

Punjab National Bank
PNB offers 30 basis points higher interest on fixed deposits for super senior citizens when compared to FDs for senior citizens on select tenures. The highest interest rate offered is 8.10% on a tenure of 400 days for super senior citizens.

According to the PNB website, “Super Senior Citizens of age 80 years & above shall get additional rate of interest of 80 bps over applicable card rate across all maturity buckets.” While senior citizens will get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80 bps for a period above 5 years on domestic deposits less than Rs. 3 Crore.

RBL Bank
RBL Bank offers 25 bps higher interest for FDs for super senior citizens when compared with FDs for senior citizens. The highest interest rate of 8.75% is offered on a tenure of 500 days for super senior citizen FDs.

According to the RBL bank website, “Senior Citizens (60 years to less than 80 years) are eligible for additional interest rate of 0.50% p.a. and Super Senior Citizens (80 years and above) are eligible for additional interest rate of 0.75% p.a. Senior Citizens/Super Senior Citizens rates are not applicable on Non Resident Fixed Deposits (NRE/NRO).”

Indian Bank
Indian Bank offers 25 bps higher rate of interest on FDs for super senior citizens when compared with fixed deposits for senior citizens. The highest interest rate is offered on a special fixed deposit - Ind Super which offers 8.05% interest on 400 days tenure (valid till March 31, 2025).

According to the Indian Bank website, “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.”

Union Bank of India
The Union Bank of India offers 0.25% over and above rate on FDs for senior citizens. The highest interest rate of 8.05% is offered on a tenure of 456 days.

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 citizens). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.”

Here’s a streamlined comparison of interest rates offered by banks for super senior citizens on fixed deposits:

Bank	Highest Interest Rate	Tenure	Additional Rate (bps)
SBI (SBI Patrons)	7.60%	2 years to less than 3 years	+10 over senior citizen rates
Punjab National Bank	8.10%	400 days	+30 over senior citizen rates
Union Bank of India	8.05%	456 days	+25 over senior citizen rates
Indian Bank	8.05%	400 days (Special FD)	+25 over senior citizen rates
RBL Bank	8.75%	500 days	+25 over senior citizen rates

Source: Bank website as on January 8, 2025

For highest returns, RBL Bank leads the above comparison with 8.75% interest rate on a 500-day tenure. PNB and Union Bank of India also stand out with competitive rates of 8.10% and 8.05%, respectively, for specific tenures. Fixed deposits for senior citizens (60+ years) seem to benefit across all banks, but FDs for super senior citizens (80+ years) receive an added advantage in select banks.

This story originally appeared on: India Times - Author:Faqs of Insurances