PSU Banks Offer Seniors 7.10% Fixed Deposit Returns
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- BankBazaar.com compiled FD rates from PSU banks as of 2 May 2026, showing senior citizen rates up to 7.10% for deposits under ₹3 crore.
- Nifty 50 posted a -2.11% return over the past 12 months, highlighting the relative safety of fixed deposits for seniors.
- BankBazaar.com notes that the rates apply to tenures ranging from 1 to 10 years, emphasizing the need for due diligence on tenure and liquidity.
Why it matters: Senior citizens gain a guaranteed 7.10% return on deposits under ₹3 crore, shielding them from inflation‑driven price hikes, while banks lock in stable funding; the higher yields push other low‑risk assets.
Ask SkimNews
