High FD Rates for Senior Citizens
In light of declining interest rates, senior citizens (aged 60 and above) have received some encouraging news. Several small finance banks in the country are currently offering appealing interest rates ranging from 8.25% to 8.8% on three-year fixed deposits (FDs). If you are seeking a secure investment option, these FD plans could be beneficial for you.
Suryoday Small Finance Bank is providing the highest interest rate of 8.8% on three-year FDs for senior citizens, applicable for deposits up to ₹3 crore.
Utkarsh Small Finance Bank, based in Uttar Pradesh, is offering an interest rate of 8.75% on three-year FDs, which is also considered quite competitive in the market.
| Suryoday Small Finance Bank | 8.8% |
| Utkarsh Small Finance Bank | 8.75% |
| Unity Small Finance Bank | 8.5% |
| Slice Small Finance Bank | 8.25% |
| Jana Small Finance Bank | 8.25% |
The interest rates offered by these banks are significantly better than those of traditional banks. However, it is crucial to consider factors such as the bank's credit rating, deposit insurance, and liquidity before investing. For senior citizens planning for a steady income, these FD options can strengthen their investment portfolio.
