PSU Bank FD Interest Rates for Senior Citizens: Most commercial banks in India offer higher fixed deposit returns to customers aged 60 and above compared to younger depositors. As of July 1, State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) provide interest rates ranging from 4 per cent to 7.75 per cent per annum on term deposits up to Rs 3 crore for senior citizens, which are typically 50 basis points (bps) higher than rates for depositors under 60. These banks offer varying lock-in periods for these fixed deposits, ranging from seven days to 10 years, as per their respective websites.
PSU Bank FD Interest Rates for Senior Citizens: Most Indian commercial banks offer higher fixed deposit interest rates to customers aged 60 and above. | Representational image | Image credit: Pexels
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