Senior citizens (for persons aged 60 years and above) are offered 0.25% to 0.50% higher interest in FDs than the normal customers.
Senior citizens FD: Fixed deposits have been a very popular investment tool for investors who care about the safety of their money. If the investor is a senior citizen (for persons aged 60 years and above), then he gets even more benefits. In FD, senior citizens are offered 0.25% to 0.50% more interest than the general customer. If you are also a senior citizen and want to make a fixed deposit, then at present there are many private banks which are offering very attractive interest. Let us understand some such special offers here so that you can get help in taking an investment decision.
Bandhan Bank
Offers interest rates up to 8.55% for senior citizens. You can get FD at the interest rate of 8.55% for a period of 1 year, 7.75% and 6.60% for 3 years and 5 years respectively.
DCB Bank
DCB Bank is also offering up to 8.55% interest on FD. If you get FD for 1 year, you will get 7.60% interest, while for 3 years you will get 8.05% and for 5 years you will get 7.90% interest rate.
SBM Bank
SBM Bank is offering FD at the maximum interest rate of 8.75% for senior citizens. In this bank, you will get 7.55% interest for a period of 1 year, 7.80% for 3 years and 8.25% for 5 years.
RBL Bank
RBL Bank is also offering a maximum interest rate of 8.60% to senior citizens. According to paisabazaar, if you make an FD for a period of 1 year and 3 years in this bank, then the interest rate is 8.00%, while the interest rate for 5 years is 7.60%.
IndusInd Bank
IndusInd Bank is also offering a maximum interest rate of 8.25% for senior citizens. 8.25% interest is applicable even for a period of 1 year, while 7.75% interest is available on FDs of 3 years and 5 years.
Yes Bank
In Yes Bank, you can get FD at a maximum interest rate of 8.25%. The interest rate for 1 year is 7.75%, while 8% interest rate is being offered on 3 year and 5 year FD.
Tamil Nadu Mercantile Bank
This private sector bank is offering FD at a maximum rate of 8.25%. In this, 7.50% interest is being given on 1 year FD. This rate is 7% for a period of 3 years and 5 years.
IDFC First Bank
IDFC First Bank offers a maximum interest rate of 8.25% to senior citizens. This rate is 7.00% for a period of 1 year, while the interest rate for 3 years and 5 years is 7.30% and 7.25% respectively.
