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THESE banks offer up to 7.5% interest on FDs for senior citizens
For nearly two years, the Reserve Bank of India (RBI) has kept the benchmark repo rate constant at 4%. FDs are offered at low interest rates by the majority of major banks.
IDFC First Bank
Senior folks can get 6.50 percent on three-year fixed deposits at IDFC First Bank. In three years, a one-lakh investment grows to a one-lakh investment.
DCB Bank
Senior folks can get 6.75 percent on three-year FDs from DCB Bank. In three years, a one-lakh investment grows to Rs 1.22 lakh.
RBL Bank
RBL Bank provides older citizens 6.80% interest on three-year FDs. In three years, a one-lakh investment grows to Rs 1.22 lakh.
Equitas Small Finance Bank.
Senior citizens can get 7% interest on three-year fixed deposits from Bandhan Bank, IndusInd Bank, Yes Bank, and Equitas Small Finance Bank. In three years, a one-lakh investment grows to a one-lakh investment.
AU Small Finance Bank
Senior adults can get 7.25 percent interest on three-year FDs from AU Small Finance Bank. In three years, a one-lakh investment grows to a one-lakh investment.
Ujjivan Small Finance Bank
Senior folks can earn 7.40 percent on three-year FDs at Ujjivan Small Finance Bank. In three years, a one-lakh investment grows to a one-and-a-half-lakh investment.
Suryoday Small Finance Bank
Suryoday Small Finance Bank provides older residents 7.50 percent interest on three-year fixed deposits. This bank has the best interest rates among small financing banks. In three years, a capital of Rs 1 lakh invested grows to Rs 1.25 lakh