Top Five Senior Citizen Deposit Schemes in India

Get to know the best options for Senior citizens to deposit their money in different banks for tenures varying from one to 5 years. Senior citizens deposits are provided higher interest rates compared to the normal fixed deposits. Various scheduled commercial banks provide loans to Senior citizens.

Find below the top five Fixed Deposit schemes available in as on November 2013.

Bank NameInterest Rate(%) Compounded Qtrly What Rs. 10,000 will grow to
Tenure 1 Year
Karnataka Bank10.0011038
Lakshmi Vilas Bank10.0011038
Tamilnad Mercantile Bank10.0011038
Axis Bank9.7512125
Induslnd Bank9.7512125
Tenure above 2 Year
Development Credit Bank10.2512244
Karur Vysya Bank10.0012184
ING Vysya Bank9.7512125
Karnataka Bank9.7512125
Lakshmi Vilas Bank9.7512125
Tenure 3 Years
Development Credit Bank10.2513548
Karur Vysya Bank9.7513351
Lakshmi Vilas Bank9.7513351
Tamilnad Mercantile Bank9.7513351
Bank of Maharashtra9.6513312
Tenure 5 Year
Karur Vysya Bank9.7516187
Lakshmi Vilas Bank9.7516187
Bank of Baroda9.5516030
Canara Bank9.5516030
Bank of Maharashtra9.5015991
Last Updated on : 26/11/2013