New Delhi: Fixed deposits are the best and safest option for senior citizens. This is because they can get better rates than the general public and also their investments can be covered by DICGC up to 5 lakhs. Seniors are now opting for FDs amid rising interest rates. Fixed deposits are the most comfortable option in the loan category as their maturity period ranges from 7 days to 10 years.
As a result, the following list of 5 banks have interest rates for senior citizens ranging from 7.50% to 8.25%. This is for those who want to invest in fixed deposit scheme for 2 years.
Bandhan Bank
The interest rates on Fixed Deposits offered by Bandhan Bank are effective from August 22, 2022. The new rates are applicable to retail accounts of less than Rs 2 crore. Bandhan Bank guarantees an interest rate of 7.50% to senior individuals on fixed deposits maturing in more than 18 months but less than two years.
Jana Small Finance Bank
Jana Small Finance Bank FD interest rates are valid from June 15, 2022 and the new card rates are applicable on accounts below INR 2 Crore. At present, Jana Small Finance Bank offers FD returns to senior citizens at an interest rate of 8.05% with maturity between 1 to 2 years.
Yes Bank
The new interest rates on Yes Bank fixed deposits are effective from August 10, 2022. The minimum deposit required by Yes Bank to start an FD is Rs 10,000 and the minimum period of reinvestment allowed is 6 months and 1 day. Yes Bank guarantees that elderly citizens will get an interest rate of 7.50% on fixed deposits of 18 months to less than 3 years.
IndusInd Bank
Interest rates on FD in IndusInd Bank are effective from August 12, 2022. IndusInd Bank is offering an interest rate of 7.50% on fixed deposits with premature withdrawal, maturing in less than 2 years from 1 year 7 months.
Utkarsh Small Finance Bank
The bank last changed the interest rates on its fixed deposits on August 12, 2022. Both the new fixed deposit and the renewal of the present fixed deposit are subject to the revised rates.
Fixed deposits with a tenor of 2 years or 730 days and an interest rate of 8.25 per cent are offered by the bank to senior citizens.
The bank offers fixed deposits maturing in five years from 700 days at 7.50% for general public and 8.25% for senior citizens, which is not only the highest rate in the banking sector, but also much higher than the current rate of retail inflation. is more.
