FD for Senior Citizens: Investing money in Fixed Deposit (FD) is now being liked by many people. People are showing interest in it due to the fixed returns available here, away from the fluctuations of the stock market. This is the reason why investing in FD is risk-free. Know, what interest are banks offering to senior citizens on 5-year FD:
At present, many people are investing money in Fixed Deposit (FD). People are showing interest in it due to the fixed returns available here, away from the fluctuations of the stock market. This is the reason why investing in FD is risk-free. Along with this, banks have now started giving good interest on FD. On the other hand, banks offer more interest on FD to senior citizens (people of 60 years or more) than to common people. Many banks are offering up to 8.75 percent interest to senior citizens on FD of 5 years duration. However, these interest rates are for deposits up to Rs 3 crore. You will not have to beg in front of anyone in trouble, start creating an emergency fund from today itself.
These banks are giving good interest to senior citizens
1. Suryoday Small Finance Bank
This bank is offering 7.35 percent interest rate to senior citizens on FDs up to one year. At the same time, it is giving 9.10 percent interest rate on two-year FDs and 8.75 percent interest rate on 5-year FDs. If you invest one lakh rupees in it for 5 years, then you will get Rs 1,54,154 after 5 years.
2. Unity Small Finance Bank
This bank is also giving good returns on FDs to senior citizens. This bank is offering 8.35 percent interest rate on one-year FD. At the same time, it is giving 8.40 percent interest rate on two-year FDs and 8.65 percent interest rate on FDs of 5 years or more. If you invest one lakh rupees in a 5-year FD of this bank, then after 5 years you will get Rs 1,53,402.
3. Utkarsh Small Finance Bank
Utkarsh Bank is also offering good interest on FD to senior citizens. This bank is giving 8.60 percent interest to senior citizens on one-year FD. At the same time, it is offering 9.10 percent interest on two-year FD and 8.35 percent interest rate on 5-year FD. If you invest one lakh rupees in a 5-year FD of this bank, then after 5 years you will get Rs 1,51,165.
4. AU Small Finance Bank
AU Small Finance Bank is also giving good returns on FD to senior citizens. This bank is giving 8.25 percent interest rate on one-year FD. At the same time, if we talk about two-year FD, then it is offering an interest rate of 7.75 percent on it. However, this bank is giving 7.75 percent interest rate on 5-year FDs. If you invest one lakh rupees in this bank’s 5-year FD, then after 5 years you will get Rs 1,46,784.
5. Ujjivan Small Finance Bank
Ujjivan Bank is also ahead in terms of giving returns on FDs to senior citizens. This bank is giving 8.75 percent interest rate on one-year FD. At the same time, it is offering 8.25 percent interest rate on two-year FDs. Apart from this, this bank is giving 7.70 percent interest rate on 5-year FDs. If you make an FD of one lakh rupees in this bank for 5 years, then after 5 years you will get Rs 1,46,425.
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