The Kalamkar

Senior Citizen: Senior Citizens are getting huge interest on FD

FD Interest Rate - After retirement, everyone thinks of investing to meet their financial needs in future. And in such a situation, fixed deposit (FD) is the best option. If you are a senior citizen and are looking for banks which are offering high interest on FD. So today we are telling you the names of five such banks which are offering the highest interest on FD. 

fd News

The Kalamkar News, FD Interest Rate: Everyone pays attention to one thing while making Fixed Deposit (FD). That is the interest rate available on it. Fixed deposits ensure guaranteed returns. This is the main reason for its attraction. 

FD interest rates vary depending on the tenure and amount chosen. Its rates also vary in different banks. Recently five banks have changed the interest rates of fixed deposits. Let us know in the news below which bank is giving higher interest on fixed deposits.

Suryoday Small Finance Bank has increased the interest rates on FD rates maturing after 25 months. The bank has increased the rate on this fixed deposit by 41 basis points (BPS) to 9.25 percent. The bank said that this interest rate will be 9.01 percent for regular customers and 9.25 percent for senior citizens.

9.25 percent interest will be available on FD

According to Suryoday Small Finance Bank, the bank is offering 4 percent to 9.01 percent interest on fixed deposits to the general public and 4.50 percent to 9.25 percent interest to senior citizens. This interest rate is on fixed deposits (FD) maturing in seven days to 10 years. 

This interest rate is available on fixed deposits of less than Rs 2 crore. The bank is also offering interest rates up to 7.75 percent to its savings account customers in the slab of Rs 5-25 crore. The bank's total deposits increased by 38 per cent to Rs 6,484 crore at the end of October-December quarter of 2023-24 from Rs 4,697 crore.

1. Equitas Small Finance Bank Fixed Deposit Interest Rate

Equitas Small Finance Bank is offering fixed deposits of 7 days to 10 years to ordinary citizens. Interest ranging from 4 percent to 9 percent is available on these FDs. The highest interest rate is 9 percent on FD maturing in 444 days. Senior citizens get additional interest of 0.50 percent. These rates are applicable from 21st August 2023.

2. Fincare Small Finance Bank Fixed Deposit Interest Rate

Fincare Small Finance Bank is offering 3.60 percent to 9.21 percent interest to senior citizens on fixed deposits maturing between 7 days to 10 years. The highest interest of 9.21 percent is being given on FD maturing in 750 days. These rates are applicable from 28 October 2023.