Many small finance banks of the country are offering very high interest rates to their investors. For senior citizens, a maximum interest of 9.5 percent is being given on FDs of 3 years duration.
Due to the high returns from trading in shares or through mutual funds, a large number of common people are leaving traditional investment options and investing in the market. However, due to market uncertainty and limited understanding of stock market strategies, experts advise common investors to invest only a small part of their investment in the market instead of investing the entire investment in the market and stay in safe investment options with the rest of the investment. This includes FD i.e. fixed deposit. FD may not give as high a return as the market, but there are many banks that are offering high interest up to 9.5 percent on FD. If you are looking for options to invest in FD, then you can take a look at these.
Where is high return available
Let us tell you that offers giving up to 9.5 percent return in FD are being received from Small Finance Bank and these offers are for senior citizens. Before investing, keep in mind that even though this investment is safer than investing in the stock market, there are risks associated with investing in FDs which are decided by the bank, financial institution on the basis of its ability to repay the money on maturity. In such a situation, check the risk before investing. Also, get information about the rates and terms.
Where is high interest available
North East Small Finance Bank is offering a high interest rate of 9.5% to senior citizens. This offer is for FDs of 3 years duration.
On the other hand, Suryodaya Small Finance Bank is offering a maximum interest rate of 9.1%. This offer is for FDs of 3 years duration and is for senior citizens.
Utkarsh Small Finance Bank is also offering a maximum interest rate of 9.1% on FDs of 3 years duration. These rates are applicable for senior citizens.
Jana Small Finance Bank is offering an interest rate of 8.75% to its senior citizen customers for a duration of 3 years.
Apart from this, Unity Small Finance Bank, Equitas Small Finance Bank are offering an interest rate of 8.5% or more to senior citizens, AU Small Finance Bank is offering an interest rate of 8% to senior citizens. All these offers are for a duration of 3 years.
