FD Interest Rate: Everyone dreams of increasing their income. In such a situation, people look for investment options. Although there are many investment options in the market today, you can earn huge profits by investing in the stock market, and mutual funds. But when it comes to guaranteed returns at low risk, FD i.e. Fixed Deposit is the most popular investment option.

Your money is safe in FD and you get guaranteed returns. At the same time, banks keep revising the interest rates of FD from time to time. Most senior citizens in the country prefer to invest in FD (FD Rate Update) to keep financially strong and money safe. Most banks in the country offer higher interest on FD than general customers.

9.10 percent interest rate on FD -

Banks and non-banking financial companies (NBFCs) are offering annual interest rates ranging from 2.50 percent to 9.10 percent for senior citizens for tenures ranging from 7 days to 10 years. Most banks and NBFCs offer 0.50 percent higher interest rates to senior citizens than the normal FD rates. Many private banks are providing 7 percent or more interest. Many NBFCs are offering 9 percent interest on FD.

These banks are giving strong interest in FD -

Public Sector Banks

Bank of Baroda (BOB) – 7.80%

Bank of India – 7.80%

Canara Bank – 7.75%

Central Bank of India – 7.95%

State Bank of India – 7.75%

Union Bank of India – 7.90%

Private Sector Banks

Axis Bank – 7.75%

Bandhan Bank – 8.55%

DBS Bank – 8.00%

HDFC Bank – 7.90%

ICICI Bank – 7.75%

IDFC First Bank – 8.40%

Yes Bank – 8.25%

Small Finance Banks

AU Small Finance Bank – 8.50%

Jan Small Finance Bank – 8.75%

North East Small Finance Bank – 9.00%

Unity Small Finance Bank – 9.10%

Utkarsh Small Finance Bank – 9.10%

Senior citizens get these special benefits.

Minimum investment: The minimum investment amount in FD starts from 100.

How to get the money earned from FD -

Let us tell you that the earnings from the money deposited in FD (FD Rate) are paid in form. You can also take this money together, apart from this, there is also an option of monthly, quarterly, half-yearly, and annual interest payments. At the same time, senior citizens (Senior Citizen FD Interest Rate) can also withdraw half or full money from FD before time to meet their needs. It can be renewed again after the FD matures.

DICGC gives insurance on deposits up to Rs 5 lakh on FD. That is, if for any reason the bank goes bankrupt and you have deposited up to Rs 5 lakh in FD, then you do not lose even a single rupee. Even after the bank collapses, the customer is given back Rs 5 lakh.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.