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Post Office Senior Citizen FD Rates

The National Savings Term Deposit Scheme or Post Office FD was made available for general and senior citizens by the Indian Government in 2019. Popularly known as Post Office FD, the Post Office of India regulates and monitors this scheme.

The intent of introducing a Post Office FD scheme for senior citizens is to ensure the monetary growth of an individual’s savings. Investors are not required to have a high-risk appetite to reap benefits from this scheme. Therefore, a Post Office Fixed Deposit scheme is a considerably safer investment option for senior citizens.

This blog will take you through all the necessary information related to Post Office FD rates for senior citizens and other relevant details.

Post Office Senior Citizen FD Rates 2023

The table below highlights senior citizen FD rates in the Post Office for 2023.

PeriodInterest Rate
1 year6.90%
2 years7.00%
3 years7.00%
5 years7.50%

Features & Benefits of Post Office Senior Citizen FD Rates

The Post Office offers customers the opportunity to open more than one senior citizen account with a maximum maturity period ranging from 5 years. Apart from that, given below are some of the other noteworthy features and benefits of Post Office Senior Citizen FD Rates in 2023.

  1. The minimum amount to start a fixed deposit for senior citizens is ₹1,000. 
  2. The fixed deposit interests are payable annually. However, the post office calculates and compounds the interest every quarter.
  3. NRI individuals cannot open a senior citizen fixed deposit account with a Post Office.
  4. You can start a post office fixed deposit with either cash or cheque. For payment by cheque, the date of payment will be the date when you will deposit it.
  5. You cannot withdraw your FD before six months of account opening.

How to Book Senior Citizen FD from the Post Office?

You can start a term deposit and earn benefits from post office senior citizen FD by both online and offline modes.


Here is a step-by-step guide that will help you avail an attractive Post Office senior citizen FD interest rate online from the comfort of your home.

  • Step 1: Visit the online portal of the Indian Post office
  • Step 2: Click on “New User Application”.
  • Step 3: Enter your Account ID and Consumer ID and select ‘Continue’.
  • Step 4: After your Internet banking account is active, enter your user ID and password to gain access to digital banking.
  • Step 5: Navigate to the “General Services” option under the menu and click on the “Services Request” tab.
  • Step 6: You will find the option “New Request” next. Click on it. 
  • Step 7: Select your account type from the various options available.
  • Step 8: Fill up the application form and click “Submit”.


The following steps will take you through the offline application process for FD so that you can enjoy Post Office Senior Citizen FD rates in 2023.

  • Step 1: Visit the nearest Post Office to your location.
  • Step 2: Collect a form to open a new FD account.
  • Step 3: Fill up the necessary details and submit the form along with the required documents.

The Post Office authorities will guide you through the next steps to start your FD.

Documents Required 

To open an account and reap benefits from Post Office FD rates for senior citizens, you must submit the following documents.

  1. PAN Card or Form 60/61
  2. Proof of Identity such as a Passport, Aadhaar Card or Voter ID
  3. Address Proof such as Electricity Bill, Telephone Bill, Post office-issued ID or certificate
  4. Post Office FD account opening application form 
  5. Passport size photographs 
  6. Bank account details 

Eligibility to Open Senior Citizen FD 

To start earning returns from Post Office senior citizen FD rates 2023, you must fulfil the following eligibility criteria.

  • Applicant type: Single adult or two or more individuals together for a joint account.
  • Applicant Age: Individuals above 60 years of age are eligible to start an FD in the Post Office.


Although fixed deposits are a low-risk investment option, consider reading through the terms and conditions thoroughly before you start your investment journey here. The Post Office FD rates for senior citizens are subject to frequent changes without prior notification. Therefore, it is mandatory to check the ongoing interest rates before you start a fixed deposit.


Who will receive the fixed deposit returns in case of the death of any senior citizen account holder?

In case of the death of a senior citizen account holder of Post Office FD, a legal heir or nominee will receive the payable FD amount.

What is the return payment frequency for senior citizen FD in a Post Office?

The Post Office pays an FD investment amount after the respective maturity period. It determines the maturity and tenure of your FD investment based on the account opening date.

How does the Post Office determine the interest income payable on senior citizen FD?

Post Office FD calculates the interest of senior citizen FD quarterly. However, customers receive the returns on an annual basis.

What is the maximum Post Office senior citizen FD interest rate for 2023?

The maximum Post Office senior citizen FD interest rate for 2023 is 7.5%.

What is the maximum deposit amount to earn from Post Office FD rates for Senior Citizens?

There is no maximum limit when it comes to investing and earning benefits from Post Office FD rates for senior citizens.

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