FD interest rates: These banks are offering best interest on FD to senior citizens in March, check details

FD interest rates: Fixed Deposit (FD) has been a famous investment option in India for years. Most senior citizens in the country prefer to invest in them because they are financially strong and their money is safe. Senior citizens in the country get more interest than normal citizens.

Interest rates and benefits

Banks and non-banking financial companies (NBFCs) are offering annual interest ranging from 2.50% to 9.10% to senior citizens for a period of 7 days to 10 years. Most banks and NBFCs offer 0.50% higher interest rates to senior citizens than normal FD rates. Many private banks are offering interest up to 7 percent. Many NBFCs are offering 9 percent interest on FD. Due to which FD has become the best source of income even after retirement.

FD Rates of Top Banks

Public Sector Banks

• Bank of Baroda – 7.80%
• Bank of India – 7.80%
• Canara Bank – 7.75%
• Central Bank of India – 7.95%
• State Bank of India – 7.75%
• Union Bank of India – 7.90%

Private Sector Banks

• Axis Bank – 7.75%
• Bandhan Bank – 8.55%
• DBS Bank – 8.00%
• HDFC Bank – 7.90%
• ICICI Bank – 7.75%
• IDFC First Bank – 8.40%
• Yes Bank – 8.25%

Small Finance Banks

• AU Small Finance Bank – 8.50%
• Jana Small Finance Bank – 8.75%
• North East Small Finance Bank – 9.00%
• Unity Small Finance Bank – 9.10%
• Utkarsh Small Finance Bank – 9.10%

Senior citizens get these special benefits

• Minimum investment: The minimum investment amount in FD starts from 100.
• Interest payment option: Monthly, quarterly, half-yearly and yearly interest payment options are available. Senior citizens can withdraw half or full amount from FD before time. After maturity of FD, it can be renewed again. DICGC provides insurance on deposits up to Rs 5 lakh on FD.

Most Read Articles:

• Visa Rule Changed: This country reduced visa free stay for these countries from 60 to 30 days, know new rule here
• New Visa Rule: Big news! This country has made a big announcement regarding Visa, check new rule here
• Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
  

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com