Best FD Rates: Fixed deposits offer stability and fixed returns, which is why people prefer to invest in it after retirement.
FD (Fixed Deposit) is considered one of the safest investment options. Due to low risk and fixed returns, people prefer to invest in FD. Among these, senior citizens also give more importance to FD because they get better returns than ordinary citizens.
SBI, HDFC Bank, Punjab National Bank, Axis Bank and Kotak Mahindra Bank, along with many other banks, offer additional 0.50% or more return on FD for senior citizens.
Small Finance Banks
Small Finance Banks offer high interest rates to senior citizens:
AU Small Finance Bank
AU Small Finance Bank is offering 8.50% return on 18-month FD for senior citizens.
Equitas Small Finance Bank
Equitas Small Finance Bank is offering 9.00% return on FDs of 444 days for senior citizens.
Northeast Small Finance Bank
Northeast Small Finance Bank is offering 9.50% return on FDs of 546 to 1111 days for senior citizens.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering 9.10% return on FDs of 2-3 years for senior citizens.
Also Read-Â RTGS and NEFT: Now sending money through RTGS and NEFT will allow verification of beneficiary name
Private Sector Banks
Let’s know which private sector banks are giving good returns on FDs to senior citizens
Axis Bank: Offering 7.75% return on FDs of 15 months.
HDFC Bank: Offering 7.90% return on FDs of 55 months.
Indusind Bank: Offers 8.25% return on FDs for 1-2 years.
RBL Bank: Offers 8.60% return on FDs for 500 days.
Public Sector Bank
- State Bank of India (SBI): Offers 7.75% return on FDs for 444 days.
- Bank of India: Offers 7.80% return on FDs for 400 days.
- Punjab National Bank: Offers 7.75% return on FDs for 400 days.
- Canara Bank: Offers 7.75% return on FDs for 444 days.
Global Bank
Deutsche Bank: Offers 8.00% return on FDs for 1-3 years.
HSBC Bank: Offers 8.00% return on FDs of 601-699 days.
Standard Chartered Bank: Offers 8.00% return on FDs of 1 year to 375 days.
Fixed deposits offer stability and fixed returns, which is why people prefer to invest in them after retirement. Another reason is that senior citizens get better interest rates and tax benefits on it.
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