Deposit (FD) scheme for super senior citizens aged 80 years and above. This is part of the SBI Patrons Fixed Deposit Scheme, where investments range from ₹1,000 to ₹3 crore,
and the term can be anywhere from 7 days to 10 years. Senior citizens above 80 years will receive an interest rate that is 0.01% higher than the standard Senior Citizens FD.
Additionally, SBI has launched the Har Ghar Lakhpati Recurring Deposit (RD) Scheme designed to help individuals save ₹1 lakh or more.
This scheme is open to children aged 10 years or above, provided they can sign their name.
PNB and IDBI Launch New FD Schemes
Punjab National Bank (PNB) has introduced two new FD schemes this month:
303 Days FD: Offers a 7% annual return for a 303-day term.
506 Days FD: Provides a 6.7% annual return for a 506-day term.
Meanwhile, IDBI Bank has rolled out the Chiranjeevi-Super Senior Citizen FD Scheme, offering attractive interest rates for those above 80 years. The details are:
8.05% annual return for 555 days
7.90% annual return for 375 days
8% annual return for 444 days
7.85% annual return for 700 days
Bank of Baroda’s Liquid FD Scheme
Bank of Baroda has launched a unique Liquid Fixed Deposit scheme, allowing customers to enjoy better interest rates on their deposits while also providing the flexibility to withdraw funds without breaking the FD.
The interest rates for this scheme range from 4.25% to 7.15%, similar to regular FD rates. Additionally, senior citizens can earn an extra 0.50% on deposits less than ₹3 crore.
