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Business News/ Money / Four private banks that offer up to 7% interest on 3-year FDs for senior citizens
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Four private banks that offer up to 7% interest on 3-year FDs for senior citizens

Smaller private banks offer interest rates of up to 7 per cent on three-year FDs for senior citizens

Here are the top four private banks offering the best interest rates on three-year FDs for senior citizens. (Mint)Premium
Here are the top four private banks offering the best interest rates on three-year FDs for senior citizens. (Mint)

Fixed deposits (FD) investment is popular among senior citizens. After the Reserve Bank of India (RBI) announced to keep the key repo rate unchanged at 4 per cent this time also, banks like State Bank of India (SBI) and HDFC Bank, have hiked interest rates on fixed deposits. Amid the covid-19 pandemic, despite falling interest rates, smaller private banks offer interest rates of up to 7 per cent on three-year FDs for senior citizens.

Here are the top four private banks offering the best interest rates on three-year FDs for senior citizens.

Bandhan Bank

Bandhan Bank offers 7 per cent interest on three-year FDs for senior citizens. These rates are with effect from January 12, 2022

2 years to less than 3 years  7.00%

3 years to less than 5 years 7.00%

Yes Bank

Yes Bank offers 7 per cent interest on three-year FDs for senior citizens. These rates are with effect from January 4, 2022

3 Years to <= 10 years

RBL Bank 

RBL Bank offers 7 % interest on deposits maturing in 24 months to less than 36 months to senior citizens. These rates are with effect from February 3, 2022.

24 months to less than 36 months 7.00%

IndusInd Bank

IndusInd Bank offers 7% to senior citizens on deposits maturing in 2 years to 61 months.These rates are with effect from February 16, 2022

2 years to below 2 years 6 Months 7.00 %

*2 years 6 months to below 2 years 9 Months  7.00%

*2 years 9 months up to 3 years 7.00%

*Above 3 years up to 61 months 7.00%

 

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Published: 20 Feb 2022, 12:55 PM IST
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