Senior citizens are provided an additional interest rate. ICICI Bank offers the Fixed Deposit (FD) scheme with interest rates ranging between 3.00% and 7.10% p.a. Senior citizens will earn an interest rate of 3.5% to 7.75% on these deposits. HDFC Bank offers an interest rate ranging from 3% to 7.25 % to general customers on deposits maturing in 7 days to 10 years.
These rates are effective February 15, 2023. Senior citizens will get 50 basis points (bps) extra on these deposits. SBI FDs between 7 days to 10 years will give 3% to 7.1% to general customers. According to the bank's website, the these rates are effective from August 12, 2023. Senior citizens will get an interest rate in the range of 4% to 7.75% on these deposits. Canara Bank offers interest rates ranging from 4% to 7.25% on deposits maturing in seven days to ten years for the general public.
