PSU Bank FD Interest Rates for Senior Citizens: Most commercial banks in the country offer slightly better fixed deposit returns to those above 60 years of age compared to other depositors. As of July 1, India’s three largest state-run lenders, State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) offer interest rates to the tune of 4-7.75 per cent per annum on term deposits – also known as fixed deposits (FDs) – of up to Rs 3 crore to senior citizen depositors. In most cases, these interest rates are about 50 basis points (bps), or half a percentage point, higher than those offered to other depositors – those below 60 years old. The three PSU banks offer a…
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