Senior Citizen FD Rates: Bank Offering More Than 8% Interest with DICGC Cover

FD Rates: Fixed deposits are still a top choice for investors these days. They guarantee returns. Today, we’re going to talk about a bank that gives senior citizens over 8% interest on 5-year fixed deposits.

This is a small finance bank. Many people shy away from investing in these banks because they worry that if they shut down in the future, they might lose their money. But there’s no need to stress. If these banks happen to close for any reason down the line, you can get a refund of up to Rs 5 lakh under the DICGC. Now, let’s dive into that small finance bank that’s offering more than 8 percent return on 5-year FDs for senior citizens.

Where can you find returns over 8%?

According to report, Suryoday Small Finance Bank has the highest interest rates for a 5-year period. This bank is providing senior citizens with a 5-year FD at 8.10%. There are also several other banks that give great returns to senior citizens on 5-year FDs.

What returns are banks offering on 5-year FDs?

AU Small Finance Bank 7.25

Equitas Small Finance Bank 7.50

ESAF Small Finance Bank 6.25

Jana Small Finance Bank 8.00

Shivalik Small Finance Bank 7.00

Slice Small Finance Bank 7.25

Suryoday Small Finance Bank 8.10

Ujjwal Jeevan Small Finance Bank 7.70

Utkarsh Small Finance Bank 7.75

Besides Suryoday Small Finance Bank, Jana Small Finance Bank is also providing an 8% return for senior citizens. Utkarsh Small Finance Bank is offering 7.75% interest, while Ujjwal Jeevan Small Finance Bank is giving 7.70% interest. ESAF Small Finance Bank has the lowest interest rate for senior citizens on 5-year fixed deposits.