These 7 top banks offer interest up to 7.2% on fixed deposits for senior citizens

Core Insights - The article emphasizes the importance of comparing fixed deposit (FD) interest rates across different banks, particularly for senior citizens who receive an additional 50 basis points on their deposits [1] Bank Interest Rates Summary - HDFC Bank: Offers the highest interest rate of 7.1% for senior citizens on a tenor of 18-21 months, with rates ranging from 6.75% to 6.9% for tenors between 1-5 years [2] - ICICI Bank: Provides an interest rate of 7.2% for tenors of 2 to 5 years, starting from 6.75% for a 1-year tenor for senior citizens [2] - Kotak Mahindra Bank: Offers 7.2% interest on FDs with tenors between 391 days to less than 2 years, and 6.75% for a 1-year deposit [3] - Federal Bank: Provides a competitive interest rate of 7.2% on a 36-month FD for senior citizens, with a 1-year tenor offering 6.75% [4] - State Bank of India (SBI): The largest bank in India offers 7.05% interest for tenors between 5 to 10 years, including a 50 basis points premium under the SBI We Care program [5] - Canara Bank: Offers 7% interest on a 444-day FD for senior citizens, with a 1-year tenor also providing 6.75% [5] - Union Bank of India: Provides 7.1% interest on a 3-year FD for senior citizens, with a 1-year tenor offering 6.9% [6]