Senior Citizen Fixed Deposit: Fixed Deposits (FDs) are often the preferred investment option for senior citizens. Most banks offer 50 basis points (bps) of interest to senior citizens from ordinary customers . Interest rates on fixed deposits are falling.
Four consecutive repo rate hike by the Reserve Bank of India (RBI) has prompted banks to increase their fixed deposit (FD) rates. Some banks are also offering inflation beating rates on FD.
Bandhan Bank Latest FD Rates for Senior Citizens
Bandhan Bank has started offering a special limited tenure of higher interest rates on Fixed Deposits. These rates are applicable on retail deposits up to Rs 2 crore and are effective from November 7, 2022. This will be applicable to fresh deposits as well as renewal of matured deposits. With this new offering, the bank is offering one of the highest interest rates on fixed deposits in the entire banking sector.
Customers will now get a higher interest rate of up to 7.5 per cent on deposits for a tenure of 600 days. Senior citizens can avail 0.50% or 50 bps more, which will take their returns up to 8% for FDs of 600 days tenor.
600 days-8%
Suryoday Small Finance Bank Latest FD Rates
Suryoday Small Finance Bank Latest FD Rates for Senior Citizens Suryoday Small Finance
Bank (SSFB) offers 8.01 percent for general public and 8.26 percent for senior individuals on FDs maturing in 999 days. The bank has recently increased the interest rates on fixed deposits with effect from November 2.
999 days -8.25%
Unity Small Finance Bank Latest FD Rates for Senior Citizens
Senior citizens can get up to 8.3% interest on FDs with Unity Small Finance Bank. This interest rate is applicable on deposits of 1 year – 1 day. Senior individuals will get 8.15% interest on FDs maturing in 2 years to 3 years and 3 years to 5 years. These rates are effective from 1 November.
1 year – 1 day : 8.30%
2 years -3 years: 8.15%
>3 years – 5 years: 8.15%
AU Small Finance Bank Latest FD Rates for Senior Citizens
AU Small Finance Bank offers 8% interest to senior citizens on deposits maturing in 2 years to 3 years and 3 years to 45 months. The interest rates applicable on fixed deposits have become effective from October 10.
24 months 1 day to 36 months – 8.00%
36 Months 1 Day to 45 Months – 8.00%
