Best Bank Fixed Deposit Interest Rates for Senior Citizens

by Manshu on July 30, 2012

in Fixed Deposits

Last week I shared some thoughts on investing after retirement, and in continuing with the theme of retirement, this week I’m going to share some of the best fixed deposit interest rates that banks have to offer right now.

In looking through these rates, I think there is no reason for anyone to accept less than 10% since so many banks offer that and you can open two or more deposits with varying maturities so that you can take advantage of the best rates that banks offer across durations.

I think this list constitutes some of the best fixed deposit rates that are currently being offered by Indian banks. If you know of any banks outside this list then please leave a comment, and I’ll update the post with your suggestion.

These are the rates in descending order.

S.No. Bank Tenure Senior Citizen Interest Rate
1 Yes Bank  15 months 10.60%
2 South Indian Bank 39 months 10.50%
3 Federal Bank  1000 days 10.50%
4 Dhanalaxmi Bank  500 days 10.25%
5 Lakshmi Vilas Bank 2 year to less than 3 years 10.25%
6 City Union Bank 1 year 10.25%
7 Karnataka Bank 1 year to 2 years 10.25%
8 Indian Bank 1 year to less than 3 years 10.25%
9 Dena Bank  3 years to less than 5 years 10.05%
10 Karur Vysya Bank 1 year to 2 years 10.00%
11 Tamil Nadu Mercantile Bank 1 year to less than 2 years 10.00%
12 Vijaya Bank 400 days 10.00%
13 IDBI Bank 1 year to 5 years 10.00%
14 Axis Bank 1 year to less than 5 years 10.00%
15 Indian Overseas Bank 1  – 5 years 10.00%
16 ICICI Bank 390 days to 5 years 10.00%
17 Kotak Bank 390 Days 9.90%
18 Andhra Bank 3 years 9.90%
19 Bank of India 555 days 9.85%
20 Syndicate Bank 1 year 9.80%
21 Punjab and Sind Bank 500 days 9.75%
22 Corporation Bank 12 months 9.75%
23 State Bank of Patiala 555 days 9.50%
24 J&K Bank 2 years or more 9.50%
25 Allahabad Bank 1 year to less than 2 years 9.50%
26 State Bank of Travancore 1 year to 3 years 9.50%
27 Canara Bank 1 year and above 9.50%
28 Central Bank of India 555 days 9.10%
29 Bank of Baroda 444 days 8.85%

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