Big news for PNB Bank account holders. Especially if you are looking for a good FD account, then today’s article is for you. Recently, major banks like the State Bank of India (SBI) and Punjab National Bank (PNB) have updated their fixed deposit rates or introduced new FD schemes specifically for investors aged 80 and above. Notably, many banks are offering better returns on fixed deposits to super senior citizens compared to those over 60, who are classified as senior citizens. According to Section 194P of the Income Tax Act, individuals over 80 years old fall into the super senior citizen category. Today, we’ll focus on what PNB has to offer. If you’re a super senior citizen seeking better returns on fixed deposits, you can find the details of PNB’s FD returns here.
Punjab National Bank
Punjab National Bank (PNB) is providing an additional 0.30% interest to super senior citizens on fixed deposits compared to senior citizens, applicable for certain tenures. The bank’s top interest rate stands at 8.1% for super senior citizens with a deposit period of 400 days.
As stated on the PNB website, “Super Senior Citizens aged 80 and above will receive 0.80% more than the standard interest rate for all maturities,” provided the deposit amount is under Rs 3 crore.
State Bank of India
On the other hand, SBI has introduced the ‘SBI Patrons’ Term Deposit Scheme for Super Senior Citizens, featuring the highest interest rate of 7.60% for fixed deposits with tenures between 2 to 3 years. According to the SBI website, this scheme offers super senior citizens an extra 0.10% interest over the rates set for senior citizens. Customers can open an FD with a minimum of Rs 1,000 and a maximum of Rs 3 crore under this scheme.
