Best FD Rates: FD is especially liked by those people who want stable income after retirement. Banks are now offering interest rates up to 9.5% for senior citizens, which is higher than the interest rates offered to general investors. With these FD rates, senior citizens can grow their wealth faster without taking additional investment risks.
Best FD Rates: Planning and investing money wisely is very important, especially in old age. Fixed Deposit (FD) is a good financial option. It provides a reliable source of income and capital security. Investing wisely has many benefits like financial security, health care cost coverage, independence, helps in fighting inflation and also provides consistent returns.
FD is especially liked by those people who want stable income after retirement. Banks are now offering interest rates up to 9.5% for senior citizens, which is higher than the interest rates offered to general investors. With these FD rates, senior citizens can grow their wealth faster without taking additional investment risks.
Such investments can be beneficial
One should invest in multiple schemes with different tenures and FD rates, thereby reducing the potential risk of keeping all investments in one FD at a fixed rate.
Different types of FDs can provide more cash in the hands of investors.
Reinvest the principal amount and interest income to benefit from the compounding effect and earn even bigger earnings.
See Banks’ Interest Rates (Senior Citizen BANKS FD Interest Rates)
These are the rates for ordinary citizens and every bank gives additional interest to senior citizens.
Axis Bank
Axis Bank is offering interest rates of 7.85% for tenure of 17 months to less than 18 months, 7.2% for first year tenure, 7.6% for second year tenure and 7.75% for third year tenure.
HDFC
HDFC Bank 7.75% for tenures from 5 years 1 day to 10 years and 18 months to less than 21 months, 7.1% for 1st year tenure, 7.5% for 2nd year tenure and 7.5% for 3rd year tenure Is giving % interest.
ICICI Bank
ICICI Bank is offering interest rates of 7.75% for a tenure of 15 months to 2 years, 7.2% for a tenure of the first year, 7.5% for a tenure of the second year and 7.5% for a tenure of the third year.
SBM Bank
SBM Bank India offers interest rates of 9% for tenure above 3 years 2 days and less than 5 years, 7.6% for first year tenure, 8.15% for second year tenure and 7.55% for third year tenure. Used to be.
Yes Bank
Yes Bank India is offering interest rates of 8.25% for tenure of 18 months to less than 2 years, 7.75% for first year tenure, 8% for second year tenure and 8% for third year tenure.
(According to PAISABAZAAR data)
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