FD interest rates for senior citizens: These seven banks offer above 9% returns on fixed deposits. Check here
Small finance banks offer higher interest rates on fixed deposits (FDs) to senior citizens. For example, Equitas Small Finance Bank offers 9% interest on FDs for senior citizens for 444 days
Fixed deposits (FD) are often preferred investment options for senior citizens because they provide a higher interest rate and tax benefits. All the top lenders including the State Bank of India (SBI), ICICI Bank, HDFC Bank, and others give 50 basis points of interest to senior citizens over and above the general customers. Like, top lenders, Small Finance Banks (SFBs) also offer higher interest rates on FDs to senior citizens.