Keeping money safe is very important for all of us, especially for senior citizens, it is important to invest keeping in mind their old age. In such a situation, there are many banks which give interest up to 7.75% to senior citizens for three years FD. Banks like BOB Axis are included in the list of these banks. Let us know about them.
New Delhi: If you are a senior citizen then you should think about investing in FD, because in this you get fixed and regular interest. There are many banks which provide interest up to 7.75% to senior citizens by giving them better savings option.
In these bank lists, public and private banks like Bank of Baroda, Axis Bank, HDFC Bank, SBI, Union Bank of India offer the highest interest rates on three-year FD for senior citizens. Let us know about it in detail.
These are the interest rates
All these banks offer the highest interest rates to resident Indians above 60 years of age. This includes retail and 3-year FDs of less than Rs 1 crore.
This value is calculated on the basis of quarterly compounding of interest. Some government banks offer interest rates to super senior citizens (80 years and above). Here we are telling about those banks which give better interest rates.
Axis Bank
- Axis Bank offers 7.60 percent interest rate on three-year FD to senior citizens.
- That means the amount of Rs 1 lakh invested now will increase to Rs 1.25 lakh in three years.
Bank of Baroda
- Talking about Bank of Baroda, it gives interest rate of 7.75 percent on three year FD.
- It gives the highest interest rates to senior citizens. That means the amount of Rs 1 lakh invested now will increase to Rs 1.26 lakh in three years.
HDFC Bank
- HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs.
- With this, the amount of Rs 1 lakh invested now will increase to Rs 1.25 lakh in three years.
State Bank of India
- State Bank of India (SBI) offers 7.25 percent interest rate on three-year FD to senior citizens.
- That means the amount of Rs 1 lakh invested now will increase to Rs 1.24 lakh in three years.
Bank of India
- Bank of India and Union Bank of India offer an interest rate of 7 percent on three-year FDs.
- The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.
Canara Bank
- Canara Bank gives 7.30 percent interest on three-year FD to senior citizens.
- The amount of Rs 1 lakh invested now with this bank will grow to Rs 1.24 lakh in three years.
