OPEN APP
Home >Money >Personal Finance >Senior citizens bank fixed deposit rates at 8%. Check latest FD rates here
Here are the FD rates for senior citizens offered by small finance banks. (iStock)
Here are the FD rates for senior citizens offered by small finance banks. (iStock)

Senior citizens bank fixed deposit rates at 8%. Check latest FD rates here

  • State Bank of India (SBI), ICICI Bank, HDFC Bank and others give 50 basis point to senior citizens on fixed deposits (FDs)
  • The interest rate offered by small finance banks are higher than bigger banks

When it comes to investing their hard-earned money, fixed deposits (FD) is the first chioce for senior citizens. Banks like State Bank of India (SBI), ICICI Bank, HDFC Bank and others give 50 basis point to senior citizens over and above the general customers. Small Finance Banks also offer fixed deposit accounts to its customers and the interest rate offered by them are higher than the top commercial banks.

Here are the FD rates for senior citizens offered by small finance banks:

Jana Small Finance Bank latest FD interest rates

Jana Small Finance Bank gives 3% to 7.75% interest on FDs ranging from 7 days to 10 years to senior citizens. The bank gives the highest rate of interest on deposits with maturity period 3 years to less than 5 years. These deposits will fetch an interest rate of 7.75% .

ALSO READ: India’s hunt for the new Vision 2020

Utkarsh Small Finance Bank latest FD interest rates

Utkarsh Small Finance Bank gives interest rate ranging from 3.50% to 7.50% to senior citizens on FDs maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits with maturity period 700 days. These deposits will fetch senior citizens 7.5% interest.

Suryoday Small Finance Bank latest FD interest rates

Suryoday Bank FD rate ranges from 4.5% to 8% to senior citizens. The bank gives the highest rate of interest on deposits maturing in 5 years. These deposits will fetch an interest rate of 8%.

North East Small Finance Bank latest FD interest rates

North East Small Finance Bank gives interest rate ranging from 3.5% to 8% on FDs maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits maturing in 730 days to less than 1095 days. These deposits will fetch interest rate of 8%.

Amid, the coronavirus pandemic and falling interest rates of commercial banks. these banks too reduced the interest rates on their deposits. Earlier these banks were offering upto 9% interest rate for general customers and 9.5% for senior citizens..

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout