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THESE banks offer up to 7.5% interest on FDs for senior citizens
New Delhi: Fixed deposits should be used by senior citizens to invest a portion of their resources. It provides liquidity and generates interest income on a regular basis. 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. According to statistics provided by BankBazaar, small finance banks and new private banks offer interest rates of up to 7.5 percent on three-year FDs for senior individuals. Here are the banks with the best three-year FD interest rates for senior adults.
Updated:Apr 11, 2022, 04:07 PM IST
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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.
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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.
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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.
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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.
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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.
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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.
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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
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