Compare high-yield fixed deposit options for super senior citizens: SBI, PNB, Union Bank of India, RBL, and Indian Bank

Indian banks offer high-interest rates on fixed deposits (FDs) for super senior citizens aged 80 and above. These senior citizens are considered “Super Senior Citizens” under the Income Tax Act 1961. Several leading Indian banks, including SBI, RBL Bank, Union Bank of India, Indian Bank, and Punjab National Bank, offer attractive interest rates for this category. The interest rates range from 7.60% to 8.10% depending on the tenure and bank. For example, SBI offers 7.60% for FDs with tenures of 2 years to less than 3 years and 5 years and up to 10 years. PNB offers 8.10% for a 400-day tenure, while RBL Bank offers 8.75% for a 500-day tenure. Union Bank of India offers an additional rate component for resident senior and super senior citizens, ranging from 3.5% to 7.3%. These rates are effective from January 2025. These schemes are available to existing and new term deposit customers, and the interest rates may change over time.