Best Fixed Deposit Interest Rate for Senior Citizens

by Manshu on February 18, 2011

in Fixed Deposits

Rahul just left a comment answering another reader about the best fixed deposit interest rate available for senior citizens right now.

I was certainly not aware of this, and at 10.5% for 8 years – Canara Bank is offering the best interest rate to senior citizens right now.

Some other banks that offer high interest rates are Axis Bank, IDBI and Tamil Nadu Mercantile Bank – all of them offer 10% to senior citizens for varying durations.

If you know of anything better then please leave a comment and I’ll update the post, and here is my earlier post about banks with high interest rates on their fixed deposits.

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{ 15 comments… read them below or add one }

Dilip Hate March 4, 2011 at 9:59 pm

Please keep on sending up dated interest for senior citizens

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Fixed Deposit March 8, 2011 at 11:11 pm

Thanks for such a nice post for senior citizens.

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raj kumar May 17, 2011 at 10:38 pm

what is the fix diposit rate for senior citizen by 2011

PNB, SBI, VIJYA BANK

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Soumya May 24, 2011 at 10:37 am

This is an interesting site. In this scenario, it is very important to have the rates in tips. FDs are better investment when interest rates are high.I came across same kind of article in want2rich.com. I am publishing the link. you cn check : http://www.want2rich.com/2011/05/personal-finance/bank-fixed-deposit-rates-india/. I think this is also useful.

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MRINAL KANTI DEOGHORIA. August 1, 2011 at 6:04 pm

Please keep on sending up dated Fixed Deposite Interest Rate for Senior Citizens.

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Umesh September 6, 2011 at 9:22 pm

Hi

I hope that the readers of onemint will find following links useful

A (a) Fixed Deposit Rates
You can get FD rates based on institution types like banks (Public Sector / Nationalized Banks, Indian Private Sector Banks, Foreign Banks, Cooperative Banks, Post Office Savings Schemes, Companies etc.). You can get interest rates selecting as per deposit period range or you can select specific deposit period for your fixed deposit. Many banks pay different rates of interest for large deposits, you can select this criteria as well.

You can also search for senior citizen and non senior rates as well.

The search is broadly categorized in 4 types:

1. FD rates based on institution type/deposit period range
2. FD rates based on institution type/specific deposit period
3. FD rates in selected institutions/deposit period range
4. FD rates in selected institutions/deposit period range

You then fill your search criteria and the resulting table can runs into hundreds of pages. In many cases you have to narrow your search or you have to be specific in your search so that the table may not run in many pages.

You can sort this table as per you choice as per alphabetical list of institutions, period of deposit and rate of interest (highest to lowest) by clicking on the first row of the table.

http://www.ratekhoj.com/fixed-deposits/fixed-deposit-rates/index.php

B. Calculators

Fixed Deposit Interest Calculator – Calculate how much interest payments you can get based on your fixed deposit amount, interest rate and interest payment period.

FD Maturity Calculator – Calculate the maturity amount and effective yield (compound interest rate) of your fixed deposit based on your deposit amount, interest rate and duration

http://www.ratekhoj.com/calculators.php

C. Find Bank IFSC Codes, MICR Codes, Postal Addresses

http://www.ratekhoj.com/banks/index.php

Umesh

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S.Ramamoorthy November 18, 2011 at 6:22 am

I would like to get the interest rates of different banks for different periods ( both private and scheduled) for FDs for senior citizens periodically

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PURNENDU BHAT April 5, 2012 at 9:33 am

I WANT CANARA BANK “RD” INTEREST RATE ?

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DIPAK KUMAR KUNDU December 18, 2012 at 1:10 pm

I would like to get interest rates of different banks for different periods(nationalised banks only) for FDs for senior citizens upto an investment of RS. 1000000.once in a week.

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Manshu December 18, 2012 at 5:35 pm

Here is a list which I update from time to time http://www.onemint.com/2012/07/30/best-bank-fixed-deposit-interest-rates-for-senior-citizens/

This list is a bit dated now but you can subscribe to it, and when I make updates to it you can get notifications.

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R.G.Chinnaswamy March 31, 2013 at 10:54 am

I wanted to know about the best interest rate on fixed deposit to senior citizens in Nationalized Bank as I have to invest Rs,10/lakh on 02-04-2013

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Vijay Bakshi June 25, 2013 at 8:21 pm

I wanted to know about the best interest rate on fixed deposit to senior citizens in Nationalized Bank

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P. RAVINDRA July 12, 2014 at 1:10 pm

I wanted to know the best interest rate on fixed deposit to Senior citizens in nationalized banks .The period of investment will be minimum one year to three years under monthly interest/quarterly interest payment plan. You can suggest Post office investment plan if any which yields more interest than public sector banks.

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onkar nath September 10, 2014 at 9:06 pm

i want to fix 3 lakhs rupees for 2 or 3 years. which bank is the best for it.
PNB.CBI.and KENERA bank is my nearest site.i am a sinior citizen person.

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S.Ramamoorthy September 15, 2014 at 6:59 am

Inf such as this help senior citizens to know the best int rate in Banks.But some banks do not update the latest figures

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