₹20,000, ₹50,000 or ₹1 lakh in 5-year senior citizen FD: SBI, HDFC Bank, ICICI Bank, PNB or Axis Bank — Which gives better returns?

Fixed deposits (FDs) remain a popular investment option among senior citizens because they offer predictable returns and capital protection, subject to applicable terms. However, FD interest rates differ across banks, which can make a noticeable difference to the maturity amount over five years.

If you are considering a one-time investment of ₹20,000, ₹50,000 or ₹1 lakh in a five-year senior citizen FD, here is how SBI, HDFC Bank, ICICI Bank, PNB and Axis Bank compare based on the rates provided.

Note: The annual interest figures below are calculated by applying the stated interest rate to the initial investment. The maturity values are illustrative calculations assuming a cumulative FD with quarterly compounding for five years, before tax. Actual maturity amounts may vary depending on the bank's applicable FD terms, compounding method and payout option.

SBI 5-year senior citizen FD

SBI offers 7.05% per annum on the five-year FD for senior citizens, based on the rate provided.

Investment    Annual interest    Estimated maturity ₹20,000    ₹1,410    ₹28,365 ₹50,000    ₹3,525    ₹70,913 ₹1 lakh    ₹7,050    ₹1,41,826

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HDFC Bank 5-year senior citizen FD

HDFC Bank offers 6.90% per annum for senior citizens for a tenure of 4 years 7 months 1 day to five years.

Investment    Annual interest    Estimated maturity ₹20,000    ₹1,380    ₹28,157 ₹50,000    ₹3,450    ₹70,392 ₹1 lakh    ₹6,900    ₹1,40,784

ICICI Bank 5-year senior citizen FD

ICICI Bank offers 7.10% per annum to senior citizens for the applicable five-year FD tenure.

Investment    Annual interest    Estimated maturity ₹20,000    ₹1,420    ₹28,435 ₹50,000    ₹3,550    ₹71,087 ₹1 lakh    ₹7,100    ₹1,42,175

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PNB 5-year senior citizen FD

PNB offers 6.85% per annum on the five-year FD based on the rate provided.

Investment    Annual interest    Estimated maturity ₹20,000    ₹1,370    ₹28,088 ₹50,000    ₹3,425    ₹70,219 ₹1 lakh    ₹6,850    ₹1,40,439

Axis Bank 5-year senior citizen FD

Axis Bank offers 7.25% per annum on the five-year FD, the highest rate among the five banks in this comparison.

Investment    Annual interest    Estimated maturity ₹20,000    ₹1,450    ₹28,645 ₹50,000    ₹3,625    ₹71,613 ₹1 lakh    ₹7,250    ₹1,43,226

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Which bank offers the highest return?

Based purely on the rates provided, Axis Bank offers the highest return among the five banks. A ₹1 lakh investment could grow to approximately ₹1.43 lakh over five years under the quarterly-compounding assumption. ICICI Bank follows with an estimated maturity of ₹1.42 lakh, while SBI's estimated maturity is around ₹1.42 lakh.

PNB has the lowest rate at 6.85%, followed by HDFC Bank at 6.90%.

The difference becomes more meaningful as the investment amount increases. For a ₹1 lakh deposit, the estimated maturity difference between Axis Bank and PNB is around ₹2,787.

Senior citizens should not compare rates alone. Tenure, premature withdrawal rules, interest payout options, deposit insurance coverage and taxation should also be considered. FD interest is taxable according to applicable income-tax rules.

The rates used here are based on the figures provided for this comparison. Since banks can revise FD rates, investors should verify the applicable rate and maturity value with the respective bank before booking a deposit.