Senior citizens still prefer to invest their savings in fixed deposits to earn returns in terms of stable income. We are telling you here some such banks which give interest up to 7.5% to senior citizens.
New Delhi. The interest rate on Fixed Deposits (FDs) is very low, so investors prefer to invest their money in Mutual Funds (MFs) or stocks. Senior citizens still prefer to invest their savings in fixed deposits to earn returns in terms of stable income. Since the Reserve Bank of India (RBI) has not changed the repo and reverse repo rates in its bi-monthly monetary policy review, most banks still offer lower interest rates, but there are some banks that are attractive to senior citizens on term deposits. Giving returns.
Jana Small Finance Bank
Jana Small Finance Bank fixed deposit rates : The bank offers an interest rate of 7.55% to senior citizens on deposits maturing in 1 year to 5 years. These rates are effective from 11 January 2022. This bank is giving the same interest rate for one year to 5 years.
North East Small Finance Bank
North East Small Finance Bank fixed deposit rates : This small finance bank offers interest rate up to 7.50% to senior citizens. The bank offers an interest rate of 7.25% to senior citizens on deposits from 366 days to 729 days and deposits for less than 730 days to 1095 days. Whereas on Fixed Deposits maturing in 777 days, it offers the highest rate of 7.50% for senior citizens and 7.00% for general public. These rates are effective from 27 January 2022.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank fixed deposit rates : The bank offers 7% interest rate on deposits maturing in 365 days to 699 days. The bank gives returns of 7.40% to senior citizens on deposits maturing in 1,000 days. These rates are applicable from 20 January 2022.
Suryoday Small Finance Bank
Suryoday Small Finance Bank fixed deposit rates : This bank also provides more than 7% return to senior citizens on their deposits. Senior citizens will get 7.30% interest rate on deposits maturing in 3 years and 7% on FDs maturing in 5 years. These rates are effective from 9 September 2021.
Fincare Small Finance Bank
Fincare Small Finance Bank fixed deposit rates : The bank offers an interest rate of 7.25% to senior citizens on deposits maturing in 59 months from 1 day to 66 months. These rates are effective from 11 February 2022. If senior citizens deposit for 25 months from 1 day to 30 months, then they get an interest rate of 7%.
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