Dena Bank FD Rates for Senior Citizens

Dena Bank offers various FD schemes to its customers, especially senior citizens. While the basics remain the same, senior citizens receive slightly higher interest rates on their investments. Dena bank FD rates for senior citizens are 0.50% p.a. higher than standard FD interest rate. These fixed deposits also have the monthly or quarterly payout option.

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Dena Bank Senior FD Rates

The Dena bank FD rates for senior citizens are mentioned below. The interest rate is for a deposit amount less than Rs 2 Crores.


Senior Citizen Fixed Deposit Interest Rates

7 Days – 14 Days 

3.30% p.a.

15 Days – 45 Days

3.30% p.a.

46 Days – 90 Days

4.20% p.a.

91 Days – 180 Days

4.20% p.a.

181 Days – 270 Days

4.80% p.a.

271 Days – 364 Days

4.90% p.a.

1 Year

5.40% p.a.

1 Year 1 Day - 400 Days

5.50% p.a.

>400 Days - 2 Years

5.50% p.a.

2 Years 1 Day – 3 Years

5.60% p.a.

3 Years 1 Day – 5 Years

5.75% p.a.

5 Years 1 Day – 10 Years

5.75% p.a.



(Per annum deposit is less than Rs 2 Crores)

Senior Citizen Tax Saving FD Interest Rates

Up to 5 Years

5.75% p.a.

>5 Years – 10 Years

6.25% p.a.

FD interest have fallen consistently over the last 5 years.
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Features of the Dena Bank FD

Dena Bank FD has many features that remain beneficial for the customer. Some of these are:

  • Dena Bank Fixed Deposit amount can be easily liquidated.
  • Tenure ranges between 7 days to 10 years.
  • There is no maximum deposit amount.
  • There are many interest payout options available.
  • Dena bank FD rates for senior citizens are 0.50% higher than the regular FD interest rates.
  • The FD account can be opened using both offline and online methods.
  • For NRIs, the FD can be opened using NRO, NRE, and FCNR accounts.
  • The bank provides a nomination facility.

Benefits of the Dena Bank FD

The fixed deposit scheme offered by Dena Bank offers multiple benefits to its customers. Listed below are the benefits of the Dena Bank FD scheme:

  • Dena Bank offers attractive interest rates for their FD accounts. 
  • The interest rates help the depositors to earn substantial profits on the invested amount.
  • The FD scheme offers higher Dena bank FD rates for senior citizens compared to regular citizens.
  • The bank has the option of a loan against the FD principal amount. The depositor can take a loan up to 85% of the deposited amount.
  • There is also an auto-renewal and part withdrawal facility. 
  • The tax saving term deposit allows the depositor to save tax up to Rs.1,50,000.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply


All Indian citizens above the age of 60 can apply for the Dena Bank FD account and enjoy the attractive and competitive Dena bank FD rates for senior citizens. However, proper documents need to be presented to the bank that proves the age of the depositor.

Documents required to open Senior citizen FD account

The essential documents required to open a Dena bank FD are as follows:

  • As age proof:
    • Passport
    • Birth certificate
    • Driving license
    • Pension card
  • As identity and residential proof:
    • Driving license
    • Aadhar card
    • Ration card
    • Voter ID
    • Utility Bills
  • Permanent Account Number (PAN) Card
  • Duly filled application form
  • Any other document asked by the bank

Factors Affecting Senior Citizen Dena Bank Fixed Deposit Rates

Tenure and payout options are some of the key factors that affect the interest return on the FD for senior citizens.

  • Less than six months: FD with less than six months tenure will get paid simple interest on the principal amount at maturity.
  • Six months and above: The Dena bank FD rates for senior citizens with higher than six months tenure will be compounded quarterly.
  • Reinvestment/ cumulative: This payout option reinvests the interest amount. Thus, the depositor earns interest over interest. And the compounding is done quarterly.
  • Monthly payout: In this option, the interest is paid to the investor monthly. As a result, the interest doesn't get compounded and hence, the investor is offered a lower interest rate.


  • Q. What are the types of Fixed Deposit accounts under Dena Bank?

    Ans: Dena Bank provides the following fixed deposits:
    • Short Term Deposit: It is a fixed deposit with a term of less than one year. The minimum tenure is seven years, and the minimum deposit amount is Rs. 1000.
    • Long Term Deposit: The tenure of this FD is more than one year up to 10 years. There are multiple FD schemes under this with different interest rates and tenure.
    • Capital Gain Account Scheme, 1988: This scheme helps in saving on tax. The Fixed Deposit under this account also has a nomination facility. The minimum deposit amount is Rs. 1000.
  • Q. Can the tenure of an existing FD account be changed?

    Ans: No, the depositor cannot change the tenure of an existing Fixed Deposit account under Dena Bank.
  • Q. Can I open an FD account without a PAN card?

    Ans: It is possible to open an FD without a PAN card but with a few limitations and altercations. Without the PAN Card, the TDS applicable will be at 20%. Without a PAN Card, you are allowed to deposit an amount less than Rs. 50,000.
  • Q. Does Dena Bank have an FD interest calculator?

    Ans: Yes, Dena Bank provides an interest calculator. The calculator determines the maturity amount at the end of the FD term. The depositor must enter the principal amount, tenure, compounding frequency, and the interest rate to calculate the final amount and interest value.
  • Q. What is the penalty for premature withdrawal?

    Ans: On premature closure of the FD, a penalty ranging from 0.50% to 1.00% is levied depending on the tenure. The depositor will not receive the original interest return. Instead, the interest paid will be the interest rate minus the penalty for the tenure.
Written By: PolicyBazaar - Updated: 03 September 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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