Fixed Deposit Latest Rates: Big news! These 7 banks are offering bumper interest of up to 9.5% on FD. See list here

Fixed Deposit Latest Rates: This may be the right time for senior citizens to earn good returns while keeping their savings safe. Many small finance banks in India are still offering fixed deposits (FDs) at attractive interest rates. The special thing is that six small finance banks are offering 8.5% or more interest.

Small Finance Banks Offering Highest Interest to Senior Citizens

• Equitas Small Finance Bank – 8.60% interest on 1 year FD and 8.50% interest on 3 year FD.
• Jana Small Finance Bank – 8.75% interest on 1 to 3 year FD, which is better for short and medium term investment.
• NorthEast Small Finance Bank – 9.00% interest on 1 to 36 month FD, which is the highest at the moment.
• Suryoday Small Finance Bank – 9.10% interest on 5 year FD, excellent option for long-term investment.
• Ujjivan Small Finance Bank – 8.60% interest on 18 month FD, good returns for medium term investors.
• Unity Small Finance Bank – 9.50% interest on 1001 day FD and 8.65% interest on 3 year FD.

Why are these high interest rates good?

Interest rates above 8.5% are great for senior citizens, as they offer higher returns than traditional banks. This is a great opportunity for those who want to get regular income from their savings.

Private banks are also offering attractive interest rates

• Bandhan Bank – 8.55% interest on 1 year FD.
• DCB Bank – 8.50% interest on FDs of less than 15 months.
• RBL Bank – 8.50% interest on 500 day FD.
• YES Bank – 8.50% interest on 18 month FD, 8.25% on 1 year, and 8.00% on 3 year FD.

Private Banks Interest Rates (Some Major Banks)

• Axis Bank – 1 Year: 7.20%, 3 Years: 7.60%, 5 Years: 7.75%
• HDFC Bank – 1 Year: 7.10%, 3 Years: 7.50%, 5 Years: 7.50%
• ICICI Bank – 1 Year: 7.20%, 3 Years: 7.50%, 5 Years: 7.50%
• IndusInd Bank – 1 Year: 8.25%, 3 Years: 7.75%, 5 Years: 7.75%
• YES Bank – 1 Year: 8.25%, 3 Years: 8.00%, 5 Years: 8.00%

Overall, if you are a senior citizen and want to earn better interest while keeping your savings safe, then small finance banks and some private banks can be the best options. Especially Unity Small Finance Bank, NorthEast Small Finance Bank and Suryoday Small Finance Bank are offering the highest interest rates.

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