Senior Citizen FD: Older people in India rely more on FDs than on whether the stock market is giving great returns or not. At present, inflation is at a high level not only in India but all over the world.
In such a situation, the Reserve Bank of India had announced a hike in prime lending rates in June, which prompted banks to increase FD interest rates. Now that some lenders are offering higher interest rates for senior citizens on certain tenures, let us know which banks are offering higher interest rates on FDs to senior citizens.
Ujjivan Small Finance Bank
It is offering interest rates of up to 7.30 per cent for small finance lenders with tenures as low as 18 months and one day in 24 months. At the same time, for 15 months one day to 18 months is 7.70 percent. USFB offers the highest interest rate of 7.20 per cent for tenures ranging from 24 months one day to 989 days. At the same time, it offers an interest rate of 7.80 percent for a tenor of 24 months. Apart from this, the interest rate for 990 days and 42 months from 1 day to 60 months is 7.40 percent.
Utkarsh Small Finance Bank
The highest interest rate offered by the lender is 7.75 per cent for a tenure of 700 to 1000 days. It offers 7.40 per cent for tenures ranging from 365 to 699 days and 7.25 per cent for tenures ranging from 1001 to 5 years.
Suryodaya Small Finance Banks
The bank offers the highest interest rate of 7.99 per cent for a tenure of 999 days. Offers an interest rate of 7.50 per cent on tenures ranging from 2 years to 998 days and 1000 days to 3 years. The bank offers an interest rate of 7.25 per cent for a tenure of 5 years.
ESAF Small Finance Bank
The bank offers the highest interest rate of 7.75 per cent for a tenure of two to three years. The bank offers an interest rate of 7.10 percent on tenors ranging from 1 year 1 day to less than 2 years.
Fincare Small Finance Bank
The highest rate of interest offered by Fincare Small Finance Bank is 7.50 percent for 59 months to 66 months and 36 months 1 day to 42 months. It offers an interest rate of 7.25 per cent over a period of 42 to 59 months.
Equitas Small Finance Bank
This bank offers the highest interest rate of 7.50 per cent for a tenure of 888 days. It offers 7.40 percent interest on tenors ranging from 889 days to 3 years. The bank offers an interest rate of 7.10 per cent for tenures ranging from one year to 18 months.
AU Small Finance Bank
This Jaipur based lender offers the highest interest rate of 7.40 per cent for tenures of 24 to 45 months and 60 to 120 months. It offers 7.10 percent on tenures ranging from 12 months and 1 day to 15 months.
