Senior Citizens FD Rates: 4 banks are giving interest up to 8% on FDs to senior citizens, check details

Due to the increase in the repo rate by the RBI, the customers making fixed deposits (FD) in banks have benefited well. Banks have been increasing the interest rates on FDs since the repo rate hike.

Fixed Deposits are a traditional investment option, where the investor gets safe returns. Most banks give 50 bps or 0.50 percent more interest to senior citizens than normal customers. If you are a senior citizen and want to get strong returns by investing in FDs in a safe way, then this news is for you only.

1. Bandhan Bank customers now get a higher interest rate of up to 7.5% on FDs for a tenure of 600 days. On the other hand, senior citizens can avail 0.50% or 50 bps more, which takes their returns up to 8% for FDs with tenure of 600 days.
2. Suryoday Small Finance Bank (SSFB) offers an interest rate of 8.01 percent to the general public and 8.26 percent to senior individuals on FDs maturing in 999 days. Recently the bank has increased the interest rates on FDs. The new rates of the bank have become effective from November 2, 2022.
3. Unity Small Finance Bank is offering up to 8.3% interest on Senior Citizens FD. This interest rate will be available on deposits of 1 year 1 day. Senior citizens will get 8.15% interest rate on FDs maturing in 2 years to 3 years and 3 years to 5 years.
4. AU Small Finance Bank offers 8% interest to senior citizens on FDs maturing in 2 years to 3 years and 3 years to 45 months. These interest rates are effective from October 10, 2022.

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