Senior Citizens FD Rate: Top Interest Paying FD Bank: In the stock market, the capital can decrease and in the worst case, it can even be lost. On the other hand, there is a risk of the bank sinking in an FD investment, but here the entire money cannot be lost. However, one complaint here is that the returns are not good. However, now some banks are giving up to 9 percent return on investments up to a period of 15 months.
Top Interest Paying FD Bank: Fixed Deposit (FD), which has been a favorite investment option for a long time, is losing its shine in the dazzling stock market. However, if money is invested after proper research, then FD can still give a safe return without any worry. You can get a return of 9 percent away from the risk of stock market fluctuations. There are some small finance banks which are giving up to 9 percent interest to senior citizens on FDs of up to 15 months on deposits of less than Rs 1 crore. Here information is being given about 10 such banks which are giving great interest for a period of 15 months. This data has been compiled by Paisabazaar.
Strong interest is being given on FD in these banks
Equitas Small Finance Bank is giving interest at the rate of 9 percent on FDs of 444 days duration. Ujjivan Small Finance Bank is offering 8.75 percent interest on 12-month FDs. Bandhan Bank is offering 8.35 percent and IndusInd Bank is offering 8.25 percent interest for 12-month FDs. DBS Bank is offering 8 percent on 376 days FD and Karur Vysya Bank is offering 8 percent interest on 444 days FD. Federal Bank is offering 7.9 percent interest on 400 days FD and Kotak Mahindra Bank is offering 7.8 percent interest on 444 days FD.
How safe is investment in FD?
Investment in FD is quite safe as compared to stock market. This is a safe option for investment for senior citizens because one does not have to face fluctuations in it. FD gives a fixed return whereas in stock market the capital can decrease and in bad cases it can also be lost. On the other hand, there is a risk of bank sinking in investment in FD but here the entire money cannot be lost. Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of central bank RBI, gives guarantee on FD deposits up to Rs 5 lakh, which means that investment up to Rs 5 lakh will remain safe even if the bank sinks.
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