Fixed deposits have become a popular investment tool for those who prioritize the safety of their money. Senior citizens (aged 60 years and above) enjoy additional benefits in FD schemes. They receive 0.25% to 0.50% higher interest rates than regular customers. If you’re a senior citizen looking to invest in a fixed deposit, several private banks are currently offering attractive interest rates. Let’s explore some of these special offers to help you make an informed investment decision.
1. Bandhan Bank
Bandhan Bank offers interest rates up to 8.55% for senior citizens. You can get an FD with an interest rate of 8.55% for 1 year, 7.75% for 3 years, and 6.60% for 5 years.
2. DCB Bank
DCB Bank is offering up to 8.55% interest on FDs. For a 1-year FD, the interest rate is 7.60%, while for 3 years, it is 8.05%, and for 5 years, it is 7.90%.
3. SBM Bank
SBM Bank offers a maximum interest rate of 8.75% for senior citizens. The interest rates are 7.55% for 1 year, 7.80% for 3 years, and 8.25% for 5 years.
4. RBL Bank
RBL Bank offers a maximum interest rate of 8.60% for senior citizens. The interest rates are 8.00% for 1 and 3-year FDs and 7.60% for a 5-year FD.
5. IndusInd Bank
IndusInd Bank offers a maximum interest rate of 8.25% for senior citizens. This rate applies to 1-year FDs, while 3-year and 5-year FDs earn 7.75%.
6. Yes Bank
Yes Bank offers a maximum interest rate of 8.25%. For a 1-year FD, the rate is 7.75%, while for 3 and 5 years, the rate is 8%.
7. Tamilnadu Mercantile Bank
Tamilnadu Mercantile Bank offers a maximum FD rate of 8.25%. The interest rate is 7.50% for a 1-year FD and 7% for 3- and 5-year FDs.
Notable mentions:
IDFC First Bank
IDFC First Bank offers a maximum interest rate of 8.25% for senior citizens. For a 1-year FD, the rate is 7.00%, while the interest rate for 3- and 5-year FDs is 7.30% and 7.25%, respectively.
Kotak Mahindra Bank
Kotak Mahindra Bank offers a maximum FD rate of 8.25%. For 1-year FDs, the rate is 7.75%, while 3- and 5-year FDs earn 7.75%.
Axis Bank
Axis Bank offers up to 8.00% for senior citizens. The rate for a 1-year FD is 7.50%, and the rate for 3- and 5-year FDs is 7.75%.
Avijit Das
A sports journalist driven by passion and dedication, I seamlessly blend my love for writing and sports. Currently with Timesbull, I have honed my craft at Sportskeeda, Cricreads, and Athlete Fortune. I live and breathe sports—whether it's football, cricket, cards, or chess, I'm always up for a challenge. A die-hard...
