FD Rates for Senior Citizens: In terms of investment, FD ie Fixed Deposit is considered a better and risk free investment tool.
The repo rate was increased by the Reserve Bank of India (RBI), after which public and private sector banks are also giving the benefit of increased FDs to their customers. One such small finance bank is Jana Small Finance Bank, which is offering higher interest rates on FDs to its customers. Actually, the bank is introducing a special limited fixed deposit scheme on the occasion of its fifth anniversary. This scheme is valid only from March 1 to March 31. That is, after March 31, you will not get the benefit of much interest.
Senior citizens are getting more interest
According to the bank’s website, senior citizens are getting the benefit of 8.85 per cent interest rate on this special anniversary FD. However, regular customers are getting the benefit of up to 8.15 per cent interest. Under this scheme, the tenure of FD will be 500 days.
How much interest is the bank paying on FD
Regular customers are getting 3.75% interest on FDs maturing in 7 days to 14 days in this small finance bank. Apart from this, senior citizens are getting 4.45 per cent interest for the same period. Apart from this, senior citizens are getting 4.95 per cent interest on FDs with maturity of 15 to 60 days and up to 5.95 per cent interest on FDs with maturity of 61 to 90 days.
These banks are also giving tremendous interest
Unity Small Finance Bank is offering up to 9.50% interest on fixed deposits to its senior citizen customers. Customers are getting this interest on FDs of 1001 days. Apart from this, Utkarsh Small Finance Bank is offering up to 9% interest on fixed deposits to its senior citizen customers. Customers are getting this interest on 700 days FD.
