Punjab National Bank (PNB), Karnataka Bank, Kotak Mahindra Bank, Dhanlaxmi Bank, J&K Bank, Jana Small Finance Bank, and ESAF Small Finance Bank revised their fixed deposit rates in the week ending January 6, 2024. Senior citizens, who prefer investing in fixed deposits, can avail of up to 9 percent on their deposits. As in the first week of 2024, 7 PNB J&K Banks Revise FD Rates senior citizens can get up to 9 percent. Here’s how much senior citizens can get on their fixed deposits. Here are the details.

Punjab National Bank (PNB)

Highest FD rate: 7.75 percent for senior citizens (60 years and above)

The bank revised its rates on January 1, 2024. It offers 7.25 percent for ‘one-year’ tenure, 7.30 percent for ‘more than one year to 399 days’, 7.75 percent for ‘400 days’, and 7.30 percent for different tenures between 401 days and two years. For ‘above two years and up to three years’, the rate of interest is 7.50 percent, for ‘above three years and up to five years’, it is 7 percent. For tenures of ‘more than five years to up to 10 years’, the rate of interest is 7.30 percent for senior citizens.

Highest FD rate: 8.05 percent for super senior citizens (80 years and above)

For super senior citizens, the rate of interest is 7.55 percent for ‘one year’, 7.60 percent for ‘above one year to 399 days’, and 8.05 percent for ‘400 days’. For other periods from 401 days to up to two years, it is 7.60 percent. For tenures of ‘above two years and up to three years,’ the rate of interest is 7.80 percent, and for ‘above three years to up to 10 years’, the bank is offering a rate of interest of 7.30 percent to super senior citizens.

Dhanlaxmi Bank

Highest FD rate: 7.75 percent for senior citizens

Dhanlaxmi Bank is offering the highest rate of interest of 7.75 percent to senior citizens. It is offering an additional 0.50 percent to seniors for all tenures starting from one year and above. From one year to up to two years, the bank is offering a rate of interest of 7.25 percent, while for 555 days (18 months and seven days), the rate of interest is 7.75 percent.

For ‘more than two years to up to three years,’ the bank is offering a rate of interest of 7 percent. Seniors can receive 7.10 percent for any tenure from more than three years to up to 10 years. The bank revised its rates on January 1, 2024.

Also Read: 4 Banks Revise FD Rates For Senior Citizens, Know More About The Tenures And Rates

J&K Bank

Highest FD rate: 7.60 percent for senior citizens

The bank revised its rates on January 1, 2024, and is offering a maximum rate of interest of 7.60 percent to seniors for ‘one year to less than two years’ tenure. For ‘two years to less than three years,’ it is offering a rate of interest of 7.50 percent, and for ‘three years to less than five years,’ and ‘five years to less than 10 years,’ the bank is offering a rate of interest of 7 percent interest. All interest rates are inclusive of 0.50 percent available for seniors over the rate of interest on offer to the general public.

Karnataka Bank

Highest FD rate: 7.65 percent for senior citizens

The bank is offering an additional 0.40 percent to senior citizens for FDs for more than one year and up to five years, and 0.50 percent additional interest for FDs for more than five years to up to 10 years. After revising the rates on January 4, 2024, the rate for seniors for ‘one year to two years’ tenure is 7.35 percent. It is 6.90 percent for ‘above two years to five years’, and 6.30 percent for ‘above five years to ten years’ tenure.

For special tenure FDs of ‘375 days’ and ‘444 days,’ the bank is offering a rate of interest of 7.50 percent and 7.65 percent, respectively.

Kotak Mahindra Bank

Highest FD rate: 7.80 percent for senior citizens.

The bank is offering a rate of interest of 7.60 percent for ‘365 days to 389 days’ tenure, 7.65 percent for ‘390 days (12 months 24 days)’, 7.70 percent for ‘391 days to less than 23 months, and 7.80 percent for different tenures between 23 months and less than two years. For tenures of ‘two years to less than three years’, the rate of interest is 7.65 percent, while for three years and above but less than five years, it is  7.60 percent. For ‘five years and above up to and inclusive of 10 years’, the rate of interest is 6.70 percent.

Jana Small Finance Bank

Highest FD rate: 9 percent for senior citizens.

The Jana Small Finance Bank (SFB) revised its rate of interest on January 2, 2024. It is offering the highest rate of 9 percent on deposits of 365 days to senior citizens, a 0.50 percent additional rate over the regular rates.

For tenures of ‘more than one year to two years (730 days)’, the rate of interest is 8.75 percent, and for tenures above two years to less than five years, it is 7.75 percent. For five years to less than 10 years, the rate of interest for senior citizens is 7 percent.

ESAF Small Finance Bank

Highest FD rate: 8.75 percent for senior citizens

The bank is offering the highest rate of interest of 8.75 percent for a tenure of ‘two years to less than three years’. For ‘one year one day to less than two years’ the rate of interest is 8.25 percent, while for ‘three years to less than five years’, it is 7.25 percent. For ‘five years to 10 years’, the rate of interest on offer is 6.75 percent. The bank revised its rates on January 1, 2024.