RS 10 LAKH FD AT 7% INTEREST: HOW MUCH WILL SENIOR CITIZENS GET AFTER 1, 3, 5 AND 10 YEARS? CHECK INSIDE

Senior citizens usually prefer investment options where their money stays safe and the return is easy to understand. This is one reason why fixed deposits are still a popular choice after retirement. The interest rate is fixed for the chosen period, so investors know in advance what they are likely to receive on maturity.

Banks also offer senior citizens a higher interest rate than regular customers. The extra rate may look small, but on a bigger deposit it can make a noticeable difference to the final amount. Senior citizens can also choose how they want to receive the interest — every month, every quarter, or at the time of maturity.

Before putting money in an FD, it is useful to compare rates offered by different banks. The tenure, premature withdrawal rules, and payout option should also be checked. For someone investing a lump sum, even a small difference in interest rate can change the maturity amount, so comparing a few banks can help in choosing a better option.

In this article, we will compare FD schemes offered by banks that provide 7 per cent interest to senior citizens across different tenures. Take a look:

Bank of Baroda

This PSU bank offers a 7 per cent interest rate to senior citizens on its 10-year FD scheme.

Maturity on a Rs 10 lakh deposit in 10 years

If a senior citizen deposits Rs 10,00,000 in a 10-year FD scheme, the amount will be doubled by maturity. They will get Rs 20,01,597.

Also Read- Rs 5 Lakh Investment in 555-day FD: BoB, Canara Bank, Indian Bank and other banks- which gives better returns?

Bank of India

The Bank of India provides a 7 per cent interest rate to senior citizens on its 1-year FD scheme.

Maturity on a Rs 10 lakh deposit in 1 year

If a senior citizen deposits Rs 10,00,000 in a 1-year FD scheme, they will get Rs 10,71,859 on maturity.

Indian Overseas Bank

Indian Overseas Bank also gives a 7 per cent interest rate to senior citizens on its 1-year FD scheme.

Maturity on a Rs 10 lakh deposit in 1 year

If a senior citizen deposits Rs 10,00,000 in a 1-year FD scheme, they will get Rs 10,71,859 on maturity.

IDFC FIRST Bank

IDFC FIRST Bank offers a 7 per cent interest rate to senior citizens on its 5-year FD scheme.

Maturity on a Rs 10 lakh deposit in 5 years

If a senior citizen deposits Rs 10,00,000 in a 5-year FD scheme, they will get Rs 14,14,778 on maturity.

Federal Bank

This private-sector bank offers a 7 per cent interest rate to senior citizens on its 3-year FD scheme.

Maturity on a Rs 10 lakh deposit in 3 years

If a senior citizen deposits Rs 10,00,000 in a 3-year FD scheme, they will get Rs 12,31,439 on maturity.

Axis Bank

Axis Bank also offers a 7 per cent interest rate to senior citizens on its 3-year FD scheme.

Maturity on a Rs 10 lakh deposit in 3 years

If a senior citizen deposits Rs 10,00,000 in a 3-year FD scheme, they will get Rs 12,31,439 on maturity.

Standard Chartered Bank

This foreign bank also gives a 7 per cent interest rate to senior citizens on its 3-year FD scheme.

Maturity on a Rs 10 lakh deposit in 3 years

If a senior citizen deposits Rs 10,00,000 in a 3-year FD scheme, they will get Rs 12,31,439 on maturity.

Also Read- Rs 2 Lakh Investment in 1-year FD: SBI, BoB, HDFC Bank, Canara Bank, ICICI Bank- which gives better returns?

2026-09-11T10:44:15Z