Most banks offer recurring deposits (RDs) for senior citizens for tenures ranging from 6 months to 10 years. These senior citizen RDs come with special benefits like additional interest rates of 0.25% to 0.75%
Let’s take a look at the latest senior citizen RD interest rates offered by some of the leading banks like SBI, ICICI Bank, HDFC Bank, PNB and Kotak Mahindra Bank.
SBI Senior Citizen RD Interest Rates 2023
The State Bank of India (SBI) offers senior citizen RDs with tenures ranging from 12 months to 1 year. Here are the latest SBI senior citizen RD interest rates:
For SBI RDs with a tenure of 1 year to less than 2 years, the bank will offer an interest rate of 7.25% to senior citizens.
For senior citizen recurring deposits of 2 years to less than 3 years, the SBI RD interest rate is 7.25%.
On senior citizen RDs with a tenure of 3 years to less than 5 years, SBI will offer interest at the rate of 6.75%.
On senior citizen RDs of 5 years and up to 10 years, the SBI RD interest rate is 6.75%.
ICICI Bank Senior Citizen RD Interest Rates 2023
The latest ICICI Bank senior citizen RD rates with effect from December 16, 2022, are as follows:
On senior citizen recurring deposits with a tenure of 6 months, ICICI Bank offers interest at the rate of 5.25%.
For senior citizen RDs maturing in 9 months, the ICICI Bank RD interest rate is 6%.
For senior citizen recurring deposits maturing in 12 months, ICICI Bank offers an interest rate of 7.10%.
ICICI Bank senior citizen RDs maturing in 15 months to 10 years will get an interest rate of 7.50%.
HDFC Bank Senior Citizen RD Interest Rates 2023
The latest HDFC Bank senior citizen RD rates with effect from December 14, 2022, are as follows:
On recurring deposits with a tenure of 6 months, HDFC Bank offers interest at the rate of 5% to senior citizens.
For RDs maturing in 9 months, the HDFC Bank RD interest rate for senior citizens is 6.25%.
For senior citizen recurring deposits maturing in 12 months, HDFC Bank offers an interest rate of 7%.
HDFC Bank RDs maturing in 15 months to 60 months will get an interest rate of 7.50%.
The interest rate for HDFC Bank senior citizen RDs maturing in 90 months to 120 months is 7.75%.
PNB Senior Citizen RD Interest Rates 2023
The Punjab National Bank (PNB) offers recurring deposits for senior citizens with the following interest rates:
For PNB RDs with a tenure of 6 months to less than 1 year, the bank offers an interest rate of 6% to senior citizens.
For senior citizen recurring deposits with a tenure of 1 year to less than 2 years, PNB offers an interest rate of 6.8%.
For RDs with a tenure of 600 days, the PNB senior citizen RD rate is 7.5%.
For senior citizen recurring deposits of 2 years to less than 3 years, the PNB RD interest rate is 6.75%.
On senior citizen RDs with a tenure of 3 years to less than 5 years, PNB offers interest at the rate of 6.60%.
On senior citizen RDs of 5 years and up to 10 years, the PNB RD interest rate is 6.90%.
Kotak Mahindra Bank Senior Citizen RD Interest Rates 2023
The latest Kotak Mahindra Bank senior citizen RD rates with effect from December 28, 2022, are as follows:
On recurring deposits with a tenure of 6 months to 9 months, Kotak Mahindra Bank offers interest at the rate of 6.25% to senior citizens.
For senior citizen recurring deposits maturing in 12 months, Kotak Mahindra Bank offers an interest rate of 7.25%.
Kotak Mahindra Bank RDs maturing in 15 months to 21 months will get an interest rate of 7.50%.
The interest rate for Kotak Mahindra Bank senior citizen RDs maturing in 24 months to 33 months is 6.90%.
For RDs with a tenure of 3 years to less than 4 years, Kotak Mahindra Bank offers an interest rate of 6.80% to senior citizens.
On senior citizen RDs with a tenure of 4 years to less than 5 years, Kotak Mahindra Bank offers interest at the rate of 6.75%.
On senior citizen RDs of 5 years and up to 10 years, the Kotak Mahindra Bank RD interest rate is 6.70%.
Disclaimer: The RD interest rates mentioned above are subject to change from time to time.
This article does not intend to pass on any financial advice and BQ Prime does not endorse any of the schemes mentioned above. Kindly invest at your own discretion.
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