Depositing money in Fixed Deposit (FD) is still considered the best option. With FD, you get guaranteed returns after a certain period of time. Our Senior Citizen customers are also not behind in doing FD.
Depositing money in Fixed Deposit (FD) is still considered the best option. With FD, you get guaranteed returns after a certain period of time. Our Senior Citizen customers are also not behind in doing FD. In the last few months, RBI has increased the repo rate 4 times at consecutive intervals. After the increase in the repo rate, private and public sector banks have increased the FD rates. In the same sequence, DCB Bank is also giving 7.50% interest to its general customers on FDs of 700 days to 36 months while 8.25% to its senior citizens customers.
These banks are giving more than 7% interest to senior citizens
Many big banks offer higher interest to their customers under special FD schemes. Big banks like HDFC Bank and State Bank of India (SBI) often bring limited period FD plans for their customers, so that their customers can get maximum interest. Many banks like Catholic Syrian Bank, Bank of India, RBL Bank and City Union Bank give 7.50%, 7.75%, 7.75% and 7.75% respectively to their senior citizens. Offering interest of 7.40%.
7.50% interest will be available on special FD plans of these banks
There are many big banks which are giving interest of 7.50% or more to their senior citizen customers on special FDs of limited period. These banks include 666 days FD of Canara Bank, 600 days FD of Bandhan Bank, 700 days FD of Federal Bank, 700 days FD of IDFC First Bank, 600 days FD of Punjab National Bank, Punjab and Sind Bank 601 days FD and Union Bank’s 599 days special FD scheme is included. At the same time, under this special FD plan, the general customers of these banks are getting 7% interest.
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