Top banks in India are offering attractive fixed deposit (FD) rates to senior citizens, with some offering as high as 8.25% interest. According to recent updates, here are the top FD rates offered by SBI, PNB, Canara Bank, HDFC Bank, and ICICI Bank for senior citizens:
* SBI: 7.7% for 5-year FD
* PNB: 7.8% for 5-year FD
* Canara Bank: 7.9% for 5-year FD
* HDFC Bank: 7.5% for 5-year FD
* ICICI Bank: 7.5% for 5-year FD
It’s worth noting that these rates are subject to change and may be revised in November 2024. Additionally, other banks such as Kotak Mahindra Bank, Axis Bank, and Bank of Baroda are also offering competitive FD rates.
For senior citizens, fixed deposits can be a tax-efficient option to earn interest income, as the interest earned is taxed at a lower rate. It’s essential to review the terms and conditions of each bank’s FD scheme before investing.