(FDs) are a popular choice among senior citizens who want to invest their money in a low-risk scheme while earning stable returns. For senior citizens looking to lock in their savings for five years, a small change in interest rate can make a noticeable difference to the final maturity amount.
Here's a look at the popular banks' FD interest rates on a 5-year tenure for senior citizens. Also know the approximate maturity amounts that you can get in these FDs on an investment of Rs 5 lakh in each.
SBI senior citizen 5-year FD interest rate
State Bank of India (SBI) offers a 7.05% interest rate on its 5-year fixed deposit scheme to senior citizens, including an additional 50 bps under the SBI We-care deposit scheme.
If a person invests Rs 5 lakh for 5 years at 7.05%, the approximate maturity amount in the SBI senior citizen FD will be Rs 7,09,129, where the total interest earned will be approximately Rs 2,09,129.
PNB senior citizen 5-year FD interest rate
Punjab National Bank (PNB) offers a 6.80% interest rate on its 5-year fixed deposit scheme to senior citizens.
If a senior citizen invests Rs 5 lakh for five years in the PNB fixed deposit scheme at an interest rate of 6.80%, the maturity amount will be approximately Rs 7,00,469. The total interest earned over the five-year period will be around Rs 2,00,469.
Canara Bank senior citizen 5-year FD interest rate
Canara Bank offers a 6.75% interest rate on its 5-year FD to senior citizens.
If a senior citizen invests Rs 5 lakh for five years in the Canara Bank fixed deposit scheme at an interest rate of 6.75%, the maturity amount will be approximately Rs 6,98,749. The total interest earned over the five-year period will be around Rs 1,98,749.
HDFC Bank senior citizen 5-year FD interest rate
HDFC Bank offers an interest rate of 6.65% on its 5-year fixed deposit to senior citizens.
If a senior citizen invests Rs 5 lakh for five years in the HDFC Bank fixed deposit scheme at an interest rate of 6.65%, the approximate maturity amount will be Rs 6,95,322. The total interest earned over the five-year period will be around Rs 1,95,322.
ICICI Bank senior citizen 5-year FD interest rate
ICICI Bank offers a 7.1% interest rate on its 5-year senior citizen fixed deposit scheme.
If a senior citizen invests Rs 5 lakh for five years in the Canara Bank 5-year FD at an interest rate of 7.1%, the maturity amount will be approximately Rs 7,10,873. The total interest earned over the five-year period will be around Rs 2,10,873.
Axis Bank senior citizen 5-year FD interest rate
Axis Bank offers a 7.25% interest rate on its 5-year fixed deposit to senior citizens.
If a senior citizen invests Rs 5 lakh for five years in the Axis Bank fixed deposit at an interest rate of 7.25%, the maturity amount will be approximately Rs 7,16,130. The total interest earned over the five-year period will be around Rs 2,16,130.
What is the maturity amount on Rs 5 lakh in 5-year SBI, PNB, HDFC Bank
| Bank | Senior citizen FD interest rate | Investment | Maturity amount | Total interest earned |
| Axis Bank | 7.25% | Rs 5 lakh | Rs 7,16,130 | Rs 2,16,130 |
| State Bank of India (SBI) | 7.05% | Rs 5 lakh | Rs 7,09,129 | Rs 2,09,129 |
| ICICI Bank | 7.10% | Rs 5 lakh | Rs 7,10,873 | Rs 2,10,173 |
| Punjab National Bank (PNB) | 6.80% | Rs 5 lakh | Rs 7,00,469 | Rs 2,00,469 |
| Canara Bank | 6.75% | Rs 5 lakh | Rs 6,98,749 | Rs 1,98,749 |
| HDFC Bank | 6.65% | Rs 5 lakh | Rs 6,95,322 | Rs 1,95,322 |
Numbers are only for illustrative purposes
