Fixed Deposits

The interest rates for Senior Citizens' Savings Bank Deposits have been structured to offer competitive returns. For fixed deposits, the rates begin at 3.50% per annum for durations ranging from 31 to 90 days. As the tenure increases, the rates also rise, offering 3.75% for deposits of 91 to 180 days and 5.00% for 181 days to under 12 months. For deposits of 12 to 26 months, the interest rate is set at 7.00%, while those from 27 months up to 62 months attract a rate of 8.00%. The most attractive rates are offered for longer-term deposits: 8.50% for tenures of 63 to 120 months, and 9.00% for senior citizens. This tiered structure provides incentives for longer saving periods while ensuring that senior citizens benefit from better interest rates on their deposits.