Keeping money in an ordinary bank fixed deposit (FD) may not be considered a great deal in the current low interest rate and high inflation situation but still it is one of the best options if safety is the only concern for the investors. Fixed deposits are a very good option especially for senior citizens and others to invest while avoiding risk.
At the same time, now after the pandemic, many banks have started special FD schemes for senior citizens, which give more interest than the current rate of interest to people aged 60 years and above. So if you are also a senior citizen or you have senior citizens in your family, for whom you want to do FD, then today we are going to tell you about the best interest rates on three year FD for senior citizens from five small finance banks and private banks. Will tell about
Banks offering high interest on FD
Ujjivan Small Finance Bank: This bank is offering 7.25 percent interest rate on three-year FD for senior citizens. According to this, the investment of Rs 1 lakh will increase to Rs 1.24 lakh in three years.
Yes Bank: This bank is offering 7 percent interest on three-year FDs for senior citizens. The investment of Rs 1 lakh in this will increase to Rs 1.23 lakh in three years.
Suryoday Small Finance Bank: The bank is offering 7.30 percent interest on three-year FDs for senior citizens. According to this, the investment of Rs 1 lakh will increase to Rs 1.24 lakh in three years.
AU Small Finance Bank: This bank is offering 6.75 percent interest on three-year FDs for senior citizens. The investment of Rs 1 lakh in this will increase to Rs 1.22 lakh in three years.
RBL Bank: This bank is offering 6.80 percent interest on three-year FDs for senior citizens. Investing in this will increase the investment of Rs 1 lakh to Rs 1.22 lakh in three years.
Why should I do FD?
If you want to invest safely then FD is the best. In this you do not have to worry about the returns. Your return is predetermined. You know how much money you are going to get on completion of the FD.
