PNB Vs SBI vs ICICI Bank vs BoB: Check senior citizens fixed deposit (FD) rates
A fixed deposit (FD) is a type of debt instrument that is offered to individuals by banks and non-banking financial institutions
A fixed deposit (FD) is a type of debt instrument that is offered to individuals by banks and non-banking financial institutions. Fixed deposit rates have climbed dramatically over the past several months as a result of the RBI raising repo rates to curb inflation, which has helped banks and NBFCs satisfy their credit demands. You may achieve your short- and long-term financial objectives by investing in a fixed deposit, which offers safe returns on a quarterly or yearly basis. The maturity period for fixed deposits runs from 7 days to 10 years. Senior citizens reap from fixed deposits the most because of the higher interest rates that are offered to them. While PNB recently upped its fixed deposit rates specifically for elderly citizens, several banks are still offering senior citizens special deposit schemes. Let's now compare the senior citizen fixed deposit interest rates offered by the major banks.