Best FD Rates For Senior Citizen: Fixed Deposit (FD) is seen as a better option for fixed income with the lowest risk. In such a situation, senior citizens prefer the option of FD for investment. Also, senior citizens get more interest than others on almost all bank FDs. Let us know about this scheme in detail.
The Reserve Bank of India (RBI) is increasing the repo rate to control the ever-increasing inflation. Due to this, banks are making loans more expensive, but at the same time, they are also increasing the interest rates on deposits. On the other hand, now if we look at the public sector banks paying the highest interest for a period of 5 years, then there are many such banks which are giving annual returns of up to 7.00%.
Bank of Baroda FD Rate FD Rates
For senior citizens, this government bank is paying interest at the rate of 6.90 percent per annum for a period of 5 years. While paying 7.25 percent interest for 3 years. Along with this, 7.25% interest is also available for a period of 1 year.
Bank of India FD Rates
This government bank is paying interest at the rate of 6.75 percent per annum on FDs of 5 years duration to its senior citizens. While 7.25% interest is being offered for 3 years and 6.50% for 1 year.
Bank of Maharashtra FD Rate FD Rates
This bank is giving 6.25% interest on FD to senior citizens for a period of 5 years. Also it is giving 6.50% interest for 3 year tenure and 6.65% for 1 year tenure.
Canara Bank FD Rates
Canara Bank is offering 7.00% interest on FDs for tenures of 5 and 3 years to senior customers. Apart from this, 7.25 per cent interest is being offered for a period of one year.
Indian Bank FD Rate FD Rates
This government bank is giving 7.00% interest on FD for a period of 5 years. While paying 6.75% interest annually on FD for 3 years. Apart from this, 6.60 percent interest is available for a period of 1 year.
