Senior citizen FD rates: SBI vs BOI vs BoB - Which banks offer the highest interest on 3-year and 5-year deposits?

Senior citizen FD rates: The Reserve Bank of India announced its bi-monthly monetary policy on October 7. The RBI Governor Sanjay Malhotra announced a repo rate hike of 25 basis points, from 5.25 per cent to 5.50 per cent. The decision came after the conclusion of the three-day meeting of the Monetary Policy Committee. Following the hike, banks may revise their fixed deposit (FD) interest rates. However, the timing will depend on their funding needs and available liquidity. Let's compare the interest rates of SBI vs BOI vs BoB to find out which is currently offering the highest interest rates to senior citizens. Also, check what the maturity amount would be for a 6 lakh fixed deposit for 3 and 5 years.

Senior citizen FD rates: SBI vs BOI vs BoB

1. SBI's 3-year FD interest rate

State Bank of India offers an interest rate of 6.80 per cent per annum to senior citizens on a 3-year fixed deposit.

SBI's 5-year FD interest rate

State Bank of India offers an interest rate of 7.05 per cent per annum to senior citizens on a 5-year fixed deposit.

How much would you get on Rs 6 lakh deposit in 3 and a 5-year FD?

At an interest rate of 6.80 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 7.34 lakh in a 3-year FD.

At an interest rate of 7.05 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 8.50 lakh in a 5-year FD.

2. BOI's 3-year FD interest rate

Bank of India offers an interest rate of 7.45 per cent per annum to senior citizens on a 3-year fixed deposit.

BOI's 5-year FD interest rate

Bank of India offers an interest rate of 6.75 per cent per annum to senior citizens on a 5-year fixed deposit.

How much would you get on a Rs 6 lakh deposit in 3 and a 5-year FD?

At an interest rate of 7.45 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 7.48 lakh in a 3-year FD.

At an interest rate of 6.75 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 8.38 lakh in a 5-year FD.

3. BoB's 3-year FD interest rate

Bank of Baroda (BoB) offers an interest rate of 6.75 per cent per annum to senior citizens on a 3-year fixed deposit for domestic deposits below Rs 3 crore, according to its published rate table effective June 12, 2026.

BoB's 5-year FD interest rate

Bank of Baroda (BoB) offers an interest rate of 6.90 per cent per annum to senior citizens on a 5-year fixed deposit for domestic deposits below Rs 3 crore.

How much would you get on a Rs 6 lakh deposit in 3 and a 5-year FD?

At an interest rate of 6.75 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 7.33 lakh in a 3-year FD.

At an interest rate of 6.90 per cent, a Rs 6 lakh FD deposit would grow to approximately Rs 8.44 lakh in a 5-year FD.

Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience consult their financial advisors before making any money-related decisions.)