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Business News/ Money / Personal Finance/  Senior citizens bank fixed deposit rates at 8%. Check latest FD rates here
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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
  • Here are the FD rates for senior citizens offered by small finance banks. (iStock)Premium
    Here are the FD rates for senior citizens offered by small finance banks. (iStock)

    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% .

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    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..

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    Published: 05 Jan 2021, 12:08 PM IST
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