Latest Bank Fixed Deposit Interest rate for Senior Citizens: Banks have been increasing interest rates on Fixed Deposits (FD) for their senior citizens and customers for the last few months. This week DBS Bank and Union Bank of India (UBI) have increased the interest rate on FDs.
The new interest rates of Union Bank of India are applicable from 25 November. Public sector bank UBI is giving interest of up to 7.3% to its general customers on FDs maturing in a period of 800 days and 3 years respectively. At the same time, the bank is paying interest by increasing 0.5% on FDs of the same duration to its senior citizen customers. That is, senior citizen customers in UBI are getting 7.8% interest on FDs maturing in 800 days and 3 years respectively.
DBS Bank (DBS Bank) is paying 0.75% more interest than common depositors on FDs maturing in 600 days for its senior citizen customers. Senior citizens are currently getting 7.75% interest from DBS Bank on FDs with maturity of 600 days. DBS Bank is offering 7% returns to its senior citizen customers on FDs maturing in 3 to 4 years, 4 to 5 years, 5 years and above. The new FD rates of the bank are applicable from 18 November 2022.
Meanwhile, Ujjivan Small Finance Bank is offering up to 8.75% interest on FDs to its senior citizen customers. On the other hand, senior citizens are getting a return of up to 9% on the FD of Unity Small Finance Bank. In recent times, many banks have changed FD interest rates for senior citizens. Some of which have been described here.
RBL Bank
RBL Bank is giving 7.75% interest on FD to its senior citizen customers. To get returns at this rate, customers above 60 years of age will have to invest in FD plans maturing in 725 days.
Bank of India
This bank is offering 7.75% return on FD to senior citizens. For this, customers who have crossed the age of 60 years will have to invest in FDs with a duration of 777 days. This rate is applicable from 1 November 2022.
Federal Bank
In Federal Bank, senior citizens are getting 7% interest on FDs with a tenure of 750 days. For this, they have to deposit their savings in this FD of the bank for 750 days. This rate is applicable from 10 October 2022.
SBM Bank
Senior citizens are getting 7.1% interest on FDs of 3 years to 10 years maturity of SBM Bank. This deposit is callable. That is, the investor will be allowed to surrender and withdraw his deposit before maturity. On the other hand, non-callable deposits of the same duration i.e. withdrawal of money before maturity will not be allowed in this FD, but SBM Bank is offering 7.5% return. This rate is applicable from 15 November 2022 on the FD of the bank.
Yes Bank
Yes Bank is giving 7.5% interest to its senior citizen customers on FDs with a tenure of 36 days to 10 years. The bank is giving 7.25% return on FDs with a tenure of 1.5 years to 3 years. These rates are applicable on 3 November 2022.
