The Union Bank of India and Jana Small Finance Bank have revised their deposit rates during the week ending on November 2, 2024. Seniors can avail of up to 8.75 per cent on their deposits at these banks. Here are the rates available for senior citizens (60 years and above).

Union Bank Of India

This public sector bank revised the deposit rate on fixed deposits (FDs) on November 1, 2024. It offers 0.50 per cent additional rates to seniors and 0.75 per cent additional to super senior citizens (80 years and above). The maximum rate for seniors is 7.80 per cent for the 456-day tenure. Rates for other tenures are as follows:

Rates For Senior Citizens: The rates for senior citizens are as follows.

• 6.85 per cent for 181 days to less than 332 days

  Advertisement

• 7.50 per cent for 333 days

• 6.85 per cent for 334 days to less than one year

• 7.30 per cent for one year to 398 days

• 7.50 per cent for 399 days

• 7.10 per cent for 400 days to 455 days

• 7.80 per cent for 456 days

• 7.10 per cent for 457 days to 996 days

• 6.90 per cent for 997 days

• 7.10 per cent for more than 998 days to less than three years

• 7.20 per cent for three years

• 7.00 per cent for more than three years to 10 years.

Also Read: What Is Ayushman Bharat Yojana?

Rates For Super Senior Citizens: For super seniors, the rates are an additional 0.25 per cent, making the total 0.75 per cent higher than that offered to the general public. The deposit rates are as follows:

• 7.10 per cent for 181 days to less than 332 days

• 7.75 per cent for 333 days

• 7.10 per cent for 334 days to less than one year

• 7.55 per cent for 398 days

• 7.75 per cent for 399 days

• 7.35 per cent for 400 days to 455 days

• 8.05 per cent for 456 days

• 7.35 per cent for 457 days to 996 days

• 7.15 per cent for 997 days

• 7.35 per cent for more than 998 days to less than three years

• 7.45 per cent for three years

• 7.25 per cent for more than three years to 10 years.

The bank offers these additional rates to seniors and super seniors on all FDs up to Rs 5 crore on all domestic term deposit schemes.

Also Read: More Than 1.8 Lakh Pensioners Successfully Obtain Digital Life Certificates On Launch Day

Jana Small Finance Bank

Small finance banks usually offer higher deposit rates than scheduled commercial banks. Jana Small Finance Bank provides the highest deposit rate of 8.75 per cent for FDs less than Rs 10 lakh, and 8.25 per cent on FDs from Rs 10 lakh to less than Rs 3 crore.

The deposit rate for senior citizens for deposits less than 10 lakh are as follows:

• 8.00 per cent for 181 to 364 days

• 8.75 per cent for 365 days to three years (1095 days)

• 7.75 per cent for more than three years to less than five years

• 8.20 per cent for five years (1825 days)

• 7.00 per cent for more than five years to 10 years.

Also Read: How Passive Funds Help Diversify

Deposit rates for FDs of Rs 10 lakh and above to less than Rs 3 crore are as follows:

• 8.00 per cent for 181 to 364 days

• 8.75 per cent for 365 days to three years (1095 days)

• 7.75 per cent for more than three years to less than five years

• 8.20 per cent for five years (1825 days)

• 7.00 per cent for more than five years to 10 years.

The bank revised the rate on November 1, 2024.