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When it comes to investing money, senior citizens often prefer fixed deposits (FD). All the top lenders State Bank of India (SBI), ICICI Bank, HDFC Bank and others give 50 basis point to senior citizens over and above the general customers. Where as senior citizen bank fd rates are higher in small finance bank as compared to bigger banks.
Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest ranging from 4.5% to 9.5% to senior citizens. For general customers the FD interest rate ranges from 4% to 9%. The bank gives highest interest rate at the rate of 9.50% for deposits maturing in 24 months 1 day to 36 months. For FDs maturing in 21 months 1 day to 24 months, senior citizen will get 9.00% interest.
21 months 1 day to 24 months-9.00%
24 months 1 day to 36 months – 9.50%
Utkarsh Small Finance Bank gives interest rate ranging from 5.25% to 9% to senior citizens on Fds maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits with maturity period 456 days to less than 2 years. These deposits will fecth senior citizens 9% interest.
Jana Small Finance Bank gives interest rate ranging from 5.10% to 9.10% for deposits maturing in 7 days to 10 years to senior citizens. Deposits maturing in 499 days will fetch highest interest for senior citizens. These deposits will give 9.10% interest. For deposits with maturity period 3 years, the bank will give 9% interest to senior citizens.
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