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SBI vs PNB: Which Bank Offers The Best Interest Rate For Super Senior Citizens Rates? Let's dig out
Let’s take a look at what we can get out of PNB. If you’re in the category of super senior citizens, and seakeing higher returns on FD, then all the necessary details of PNB’s FD returns can be found right here. For some of you, if you are looking out for a good FD account and hold a valid PNB bank account then this is going to be a great article.
A piece of good information for PNB Bank account holders especially those in the hunt for a decent fixed PK account, so this article is for you. It has been observed that India’s biggest banks such as State Bank of India (SBI) and Punjab National Bank (PNB) have started offering new fixed deposit rates or new FD schemes for the investors aged 80 years and above. It is worth mentioning that several banks have improved the fixed deposit interest rates for super senior citizens in contrast to the rates offered for those who are over 60 years of age and considered as senior citizens. As per the clause 194 P “super senior citizen” refers to individuals who are more than eighty years old, so almost all banks do not care to serve such people. In this instance, let us view what PNB has to offer. There is a great chance on better returns of fixed deposits for super senior citizens, for such people details on PNB’s fixed deposit returns can be found within this context.
Punjab National Bank
Punjab National Bank (PNB) is extending interest rates on Fixed Deposits aimed at super senior citizens by an additional 0.30% over the rate offered to senior citizens on some fixed terms. As of now, the highest 8.1 percent interest on fixed deposits is available for super senior citizens for a period of 400 days.
In the words of PNB officials, which are also available on the PNB website, “Super Senior Citizens above the age of 80 years will be paid 0.80% more than the usual interest rate for all periods,” assuming that the total deposit amount is up to Rs 3 crore.
State Bank of India
In contrasting scenarios, SBI has provided the highest interest rate of 7.60% per annum on Fixed Deposits for two to three years along the introduction ofthe ‘SBI Patrons’ Term Deposit Scheme for Super Senior Citizens. According to the SBI website, this scheme allows super senior citizens to earn 0.10% more than the interest rate set for senior citizens. One can avail of an FD under this scheme, with a minimum investment slab of Rs 1000 and a maximum up to Rs 3 crore.