Super Senior Citizens: These 5 Indian Banks Offer the Highest FD Rates – Check Details!

Any person who reaches the age of 80 or above is deemed a Super Senior Citizen under section 194P of the Income Tax Act 1965. In appreciation for Super Senior Citizens' patronage, some banks provide them additional benefits in terms of the rate of interest on FDs.

Super senior citizens are eligible for higher rates on FDs from certain banks, including SBI, RBL Bank, Union Bank of India, Indian Bank, and Punjab National Bank. Here's a list of the top Indian banks that provide super senior citizens with high interest rates on FDs.

"SBI Patrons," a fixed deposit program offered by the State Bank of India (SBI) for super senior citizens, offers 10 basis points (bps) more than the rates for senior people. The bank offers the highest interest rate of 7.60% for super senior citizen FDs on tenure of 2 years to less than 3 years.

According to the SBI website, “Under ‘SBI Patrons’ scheme, super senior citizens will be offered interest rate of 10 bps above the card rates applicable for senior citizens.”

PNB offers the highest interest rate of 8.10% on a tenure of 400 days for super senior citizens.

According to the PNB website, “Super Senior Citizens of age 80 years & above shall get additional rate of interest of 80 bps over applicable card rate across all maturity buckets.”

The bank offers the highest interest rate of 8.75% on a tenure of 500 days for super senior citizen FDs.

According to the RBL bank website, “Senior Citizens (60 years to less than 80 years) are eligible for additional interest rate of 0.50% p.a. and Super Senior Citizens (80 years and above) are eligible for additional interest rate of 0.75% p.a. Senior Citizens/Super Senior Citizens rates are not applicable on Non Resident Fixed Deposits (NRE/NRO).”

The highest interest rate is offered on a special fixed deposit - Ind Super which offers 8.05% interest on 400 days tenure.

According to the Indian Bank website, “A Special Term Deposit Account for Super Senior Citizen” (Age 80 years and above) is offering additional 0.25% higher rate of interest over & above the additional rate that is presently being offered for normal Senior Citizen on Term Deposit for all deposit buckets.”

The additional rate component applicable to resident super senior citizens is 0.75%.

According to the Union Bank of India website, “The additional rate component applicable to resident super senior citizens is 0.75% over and above the normal rate displayed above (0.25% over and above rate applicable to resident senior citizens). The additional rate on super senior term deposits would be applicable for the term deposits opened/renewed on or after 01.12.2022.”