Sunita SomvanshiIf your savings sit in a bank account earning little, you may be leaving money on the table. Two banks have revised special fixed deposit tenures that pay more than standard rates. Here is what the numbers look like for senior citizens and savers, before tax.
Bank FD rates for senior citizens in 2026 include two special schemes. SBI’s Amrit Vrishti 444-day scheme was revised to 6.45% a year for the general public, effective December 15, 2025. Senior citizens receive additional benefits under the scheme. Indian Bank’s IND Grow 555-day deposit pays 6.80% for the general public, 7.30% for senior citizens and 7.55% for super senior citizens. Its IND Prosper 777-day deposit pays 6.75%, 7.25% and 7.50% respectively. The rates rose 15 basis points on October 23.
If you have idle money in a savings account, compare these special tenures before you decide. Eligible depositors can submit Form 15G or 15H to avoid TDS deduction. These forms do not remove tax that is legally due.
444 Days, 555 Days and 777 Days: What the Tenures Mean
Renewal rules differ by bank, so check what happens when your deposit matures.
Tax takes a bite. Using the 30% slab with the 4% cess, a 6.80% rate leaves about 4.7% after tax, and 7.55% leaves about 5.2%. At the 20% slab, they leave about 5.4% and 6.0%. These are illustrative nominal returns, not effective yields.
The premium for senior and super senior citizens varies by bank and scheme.
What is the interest rate on SBI Amrit Vrishti 444 days? It was revised to 6.45% a year for the general public, effective December 15, 2025.
Ask about early withdrawal before you commit. Check the penalty for breaking a deposit early, because it can reduce the extra yield you were counting on.
This is general information, not personal financial advice. Tax depends on your income, so check with a qualified adviser before you decide. Rates change, so confirm the current rate with your bank. Compare the exact tenure, the payout schedule and the early withdrawal rule before you choose.
