State Bank of India (SBI) has introduced a special FD scheme under the SBI Patrons Fixed Deposit Scheme for super senior citizens aged 80 years and above.
The scheme allows investments ranging from ₹1,000 to ₹3 crore, with terms spanning from 7 days to 10 years.
Super senior citizens will earn an additional 0.01% interest rate over the standard Senior Citizens FD rate.
SBI has also launched the “Har Ghar Lakhpati” Recurring Deposit (RD) Scheme to help individuals save ₹1 lakh or more.
This scheme is open to children aged 10 years or above who can sign their name.
New FD Schemes from PNB, IDBI, and Bank of Baroda
Punjab National Bank (PNB)
PNB has introduced two FD schemes with the following terms and returns:
303 Days FD: 7% annual return
506 Days FD: 6.7% annual return
IDBI Bank
IDBI Bank launched the Chiranjeevi-Super Senior Citizen FD Scheme, offering attractive interest rates for individuals above 80 years:
555 days: 8.05% annual return
375 days: 7.90% annual return
444 days: 8% annual return
700 days: 7.85% annual return
Bank of Baroda
Bank of Baroda’s Liquid FD Scheme combines flexibility and competitive interest rates.
Customers can withdraw funds without breaking the FD while earning interest rates between 4.25% and 7.15%. Senior citizens enjoy an extra 0.50% on deposits below ₹3 crore.
