Which private, PSU bank is offering highest senior citizen FD interest rate: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Yes Bank

Ever since the Reserve Bank of India started to hike the repo rate in May 2022, most (if not all) banks have followed the trend and hiked their fixed deposit interest rates passing on the benefit to customers. To attract risk averse investors like senior citizens, banks offer higher interest rates to them. Interest rates on fixed deposits for senior citizens vary depending on the amount and tenure. After the recent spate of FD rate hikes, senior citizen investors should compare the interest rates before booking fixed deposits.

Here is a comparison of senior citizen FD interest rates of top banks like SBI, HDFC Bank, ICICI Bank, PNB and Yes Bank.

SBI senior citizen FD interest rates

State Bank of India offers interest rates between 3.50% to 7.50% (including SBI Wecare) on tenure ranging from 7 days to 10 years.

The bank has launched a special 400-day (Amrit Kalash) tenor scheme with an interest rate of 7.60% senior citizens. The program will be valid until March 31, 2023. SBI has launched another new deposit scheme for resident individuals and non- individual customers dubbed as SBI ‘Sarvottam’ (Non-Callable) Term Deposits for deposits above Rs 15 lakh. For amounts above Rs 15 lakhs to less than Rs 2 crores, the interest rate offered is 7.10% for residents on 1 year tenor and 7.55% for senior citizens. For 2 year tenor, the bank offers 7.40% for general public and 7.90% for senior citizens.

Also read: SBI Sarvottam Term Deposits: Earn up to 7.9% FD interest rate

Readers Also Like: Mega backdoor Roth conversions can be a 'no brainer' for higher earners, expert says

Tenors	Rates w.e.f. 15/02/2023
7 days to 45 days	3.5
46 days to 179 days	5
180 days to 210 days	5.75
211 days to less than 1 year	6.25
1 Year to less than 2 years	7.3
2 years to less than 3 years	7.5
3 years to less than 5 years	7
5 years and up to 10 years	7.50@

400 days (Special Scheme i.e. “ Amrit Kalash”)	7.6

Also read: RD interest rates compared: SBI vs HDFC Bank vs ICICI Bank vs PNB vs YES BankHDFC Bank senior citizen FD interest rates
HDFC Bank offers 3.50% to 7.75% (including HDFC Care) on tenure ranging from 7 days to 10 years. According to the HDFC Bank website, “An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 31st Mar’2023.”

Tenor	Senior Citizen Rates
7 – 14 days	3.50%
15 – 29 days	3.50%
30 – 45 days	4.00%
46 – 60 days	5.00%
61 – 89 days	5.00%
90 days	5.00%
6 mnths 1 days	6.25%
9 mnths 1 day to	6.50%
1 year to	7.10%
15 months to	7.60%
18 months to	7.50%
21 months – 2 years	7.50%
2 years 1 day – 3 years	7.50%
3 year 1 day to – 5 years	7.50%
5 year 1 day – 10 years	7.75%*

ICICI Bank senior citizen FD interest rates
ICICI Bank offers senior citizens interest rates of 3.50% to 7.50% on tenure ranging from 7 days to 10 years. Under the Golden Years FD, the bank offers 0.10% interest rate. According to the website, “Resident Senior Citizen customers will get an additional interest rate on an FD of 0.10% for a limited time over and above the existing additional rate of 0.50% per annum.”

Readers Also Like: Spending priorities for new earners: How to take control of your finances

Tenure	Senior Citizen
7 days to 14 days	3.50%
15 days to 29 days	3.50%
30 days to 45 days	4.00%
46 days to 60 days	4.75%
61 days to 90 days	5.00%
91 days to 120 days	5.25%
121 days to 150 days	5.25%
151 days to 184 days	5.25%
185 days to 210 days	6.25%
211 days to 270 days	6.25%
271 days to 289 days	6.50%
290 days to less than 1 year	6.50%
1 year to 389 days	7.20%
390 days to	7.20%
15 months to	7.60%
18 months to 2 years	7.60%
2 years 1 day to 3 years	7.50%
3 years 1 day to 5 years	7.50%
5 years 1 day to 10 years	#7.50%
5 Years (80C FD) – Max to `1.50 lac	7.50%

PNB senior citizens FD interest rates
According to the bank’s website, senior citizens will receive an extra 50 basis points on top of the standard card rates for any domestic deposit maturity of less Rs 2 crore. The bank offers interest rates for senior citizens ranging from 4% to 7.75% for terms of 7 days to 10 years. For super senior citizens, the bank offers highest interest rate of 8.05%.

Period	Rates For Senior Citizens	Rates For Super Senior Citizens
7 to 14 days	4	4.3
15 to 29days	4	4.3
30 to 45 days	4	4.3
46 to 90 days	5	5.3
91 to 179 days	5	5.3
180 days to 270 Days	6	6.3
271 days to less than 1 year	6.3	6.6
1 year	7.3	7.6
above 1 year to 665 days	7.3	7.6
666 days	7.75	8.05
667 days to 2 years	7.3	7.6
above 2 year & upto 3 years	7.5	7.8
above 3 year & upto 5 years	7	7.3
above 5 years & upto 10 years	7.3	7.3

Readers Also Like: Meet the private doctor to the wealthy — at $40,000 a year

Yes Bank senior citizens FD interest rates
Yes Bank offers interest rates between 3.25% to 8% on tenure ranging from 7 days to 10 years. On special deposit of 35 month tenure, the bank offers highest interest rate of 8.25%.

	Senior Citizens***
	Interest Rates
7 days to 14 days	3.75%
15 days to 45 days	4.20%
46 days to 90 days	4.60%
91 days to 180 days	5.25%
181 days to 271 days	6.50%
272 days to	6.75%
1 Year to	7.75%
15 months to	8.00%
35 months 1 day to	8.00%
36 months to	7.75%