Senior Citizen FD Rates: Bank fixed deposits are there to support senior citizens in old age. These come with guaranteed returns without any risk. Interest on fixed deposits has been high for some time now. Banks offer up to 50 basis points more interest to senior citizens than regular citizens. And now there are banks that are offering them higher interest.. Rs. Let’s find out how much comes in a million.
Bank FD: Fixed deposits are best for senior citizens to avoid any financial problems in their old age. Still many banks are offering high interest on FDs. There is absolutely no risk involved. You will get money for a certain tenure at a guaranteed interest rate. Ever since the RBI kept the repo rates at maximum levels, many banks and other financial institutions have been increasing interest rates on deposits. Due to this, returns are coming more. It can be said that senior citizens still get more benefit with FDs as compared to general citizens. They get about 0.50 percent more interest. Also TDS is less.
Check Senior Citizens FD
Now we are giving senior citizens Rs. Let’s see the list of leading private and government banks offering highest interest on deposits below 2 crores. Of these Rs. Let’s find out how long the maximum interest and returns will be if you deposit 1 lakh.
DCB Bank, one of the leading private sector banks, is offering the highest interest rate of 8.60 percent on FD for 25-26 months to senior citizens. Here Rs. If one lakh is deposited Rs. 17,675 as interest. Total per hand Rs. 1,17,675 will come.
IDFC First Bank is offering 8.50 percent interest to senior citizens on 500 days special deposit. If you deposit one lakh in this, within 500 days you will get Rs. 11,701 as interest received.
While they get 8.35 percent interest on annual deposit in Bandhan Bank.. For those who have deposited Rs. 8,104 as interest.
Senior Citizens are getting 8.25 percent interest on FDs of one to two years in IndusInd Bank. In this calculation Rs. Lakh in a year to Rs. 1,08,010 will do. In the same two years, Rs. 1,16,262 will do.
Yes Bank offers 8.25 percent interest on deposits for 18-24 months. For 18 months, Rs. If you deposit one lakh.. Rs. 12,170 will receive interest. For a period of two years Rs. 16,262 as interest.
DBS Bank India offers 8 percent interest on deposits of 376 days to 540 days. For 376 days Rs. If you deposit one lakh Rs. 8,229 as interest. 540 days FD on Rs. 11,889 interest coming.
Karur Vysya Bank is also offering 8 percent interest on 444 days tenure deposits. Rs. For those who have deposited Rs.1 lakh per hand on maturity. 9,742 as interest.
