The country’s largest government bank, SBI, has recently launched a special FD for super-senior citizens. Along with SBI, many other banks have also introduced their own FD schemes this month. Let’s find out which one offers the highest returns.

SBI’s FD Scheme

SBI has launched a scheme for senior citizens aged 80 years and above, called the SBI Patrons Fixed Deposit Scheme. Investments can range from Rs 1,000 to Rs 3 crore, with a tenure of 7 days to 10 years. Senior citizens above 80 years will receive 10 basis points (0.01%) more interest on their FD compared to regular senior citizens.

Additionally, SBI launched the Har Ghar Lakhpati RD scheme, designed for savings of Rs 1 lakh or more. Children above 10 years of age who can sign correctly are eligible to open an account on their own.

PNB’s Two New FD Schemes

Punjab National Bank has introduced two new FD schemes this month:

  • 303 Days FD: This scheme offers an annual return of 7% on FD for 303 days.
  • 506 Days FD: This scheme offers an annual return of 6.7% on FD for 506 days.

IDBI Bank’s FD Scheme

IDBI Bank has introduced the Chiranjeevi-Super Senior Citizen FD scheme this month for those aged 80 years and above. The scheme offers the following interest rates:

  • 8.05% annual interest for 555 days
  • 7.90% annual interest for 375 days
  • 8% annual interest for 444 days
  • 7.85% annual interest for 700 days

Bank of Baroda’s Unique Liquid FD Scheme

Bank of Baroda has launched a unique Liquid Fixed Deposit scheme, where customers can enjoy better interest rates on their deposits and, if necessary, withdraw money without breaking the FD. Interest rates in this scheme range from 4.25% to 7.15%, in line with regular FD rates. Senior citizens get an additional 0.50% on deposits less than Rs 3 crore.

Disclaimer: The interest rates mentioned are taken from the official websites of these banks. This information is for general knowledge only. Times Bull is not responsible for any financial investments; it is entirely your decision. Please consult a financial advisor before investing for better financial planning.