Senior Citizen Fixed Deposit Investment: Senior Citizen also invests a large number in fixed deposits. Actually money is safe here and you can easily access it when needed.
Senior Citizen Fixed Deposit Investment: There are many such banks for senior citizens that are giving them better interest than the rates of normal interest on Fixed Deposit ie FD. Example: Common citizen gets interest on FD at the rate of 7%. On the other hand, senior citizens will get interest at the rate of 7.50% or 7.75%. Let us know which bank is offering the best interest rate to senior citizens on FDs with a tenure of 2 years.
In fact, senior citizens do their future planning very carefully. Most senior citizens opt for fixed deposits as a safe investment, where they get the benefits of permanent returns, loans and tax savings. Apart from this, there are many banks that offer pay-out options, from which you can choose based on your needs.
Axis Bank Bank
Axis Bank is offering an interest of 6.05% to senior citizens on Fixed Deposits with a tenure of 2 years. On investing Rs 10,000 in this bank, the amount will increase to Rs 11276.03.
Bandhan Bank
Bandhan Bank is currently offering interest at the rate of 7% on a 2-year FD. By putting 10 thousand rupees in this, your money will increase to Rs 11488.82.
IDFC First Bank
In IDFC First Bank, senior citizens are currently getting an interest rate of 6.25% on two-year FDs. On investing Rs 10,000 in this, the amount will increase to Rs 11320.54.
IndusInd bank
In IndusInd Bank, FDs with a tenure of 2 years are currently getting interest at the rate of 7%. By investing Rs 10,000 in this, your money increases to Rs 11488.82.
RBL Bank
At present, an interest rate of 7 percent is available on two-year FD in RBL Bank. On investing Rs 10,000 in this, the amount will increase to Rs 11488.82.
If you currently invest in a long term FD and later break the FD before maturity and reinvest in it at a higher interest rate, then penalty can be imposed.
