PNB is offering an interest rate of from 3.80 per cent to 6.55 per cent on fixed deposits only for super senior citizens 
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PNB is offering an interest rate of from 3.80 per cent to 6.55 per cent on fixed deposits only for super senior citizens State-owned bank Punjab National Bank (PNB) has decided to revise the fixed deposit interest rates for senior citizens, who are above 80 years. The bank will be offering an extra 80 basis points (bps) on fixed deposits over and above. The revised interest rate is available on all tenures ranging from 7 days to 10 years.
Most banks are revising their fixed deposit rates after the Reserve Bank of India increased its repo rate to 5.90 per cent last week.
Also read: RBI rate hike: Axis Bank changes interest rates on fixed deposits under Rs 2 crore; check new rates
Banks generally offer interest rates in two slabs, one for general investors and one for senior citizens. Banks usually offer a higher interest rate, 50 bps, to senior citizens (60 years and above) over and above the FD rates for the general public.
PNB had raised the rates on fixed deposits across all tenors for super senior citizens on September 13.
Revised rates
The bank is offering fixed deposits starting from 7 days for a maximum of up to 10 years. Super senior citizens are getting an interest rate that ranges from 3.80 per cent to 6.55 per cent on fixed deposits in the time period of 7 days to 1,111 days.
| Tenure | Revised interest rates |
| 7 days to 14 days | 3.80% |
| 15 days to 29 days | 3.80% |
| 30 days to 45 days | 3.80% |
| 46 days to 90 days | 4.05% |
| 91 days to 179 days | 4.80% |
| 180 days to 270 days | 5.30% |
| 271 days to | 5.30% |
| 1 year | 6.30% |
| 1 year to 404 days | 6.30% |
| 405 days | 6.90% |
| 406 days to 2 years | 6.30% |
| >2 years to 3 years | 6.40% |
| >3 years to 5 years | 6.55% |
| >5 years to 10 years | 6.45% |
| 1,111 days | 6.55% |
Special interest rates
Many banks had introduced special fixed deposits for senior citizens where a higher interest rate was offered on term deposits for schemes valid for 5 years and above.
Also read: HDFC Bank, IDBI Bank to wind up these special fixed deposit (FD) schemes from October 1
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