Highest Interest Rate on Senior citizen FD:In September, many small finance and private banks are offering their senior citizen customers the facility of making FDs at better interest rates. In comparison to all the major banks of the country, small finance banks are offering 8% or more up to 9.50% interest on FDs to senior citizens i.e. investors of 60 years and above. These rates are for FD schemes of different tenures.
These banks are getting more than 8% interest
If you are a senior citizen and are looking for safe investment options to get better returns on your savings, then for your convenience, here is a list of 20 banks. All the banks included in the list are paying 8% or more interest on senior citizen FDs.
| Name of the Bank | Senior Citizen FD Rate (Annual) | ||
| interest rate | Tenure | ||
| Small Finance Bank | |||
| 1 | AU Small Finance Bank | 8.50 | 18 months |
| 2 | Equitas Small Finance Bank | 9.00 | 444 days |
| 3 | ESAF Small Finance Bank | 8.75 | 2 years to less than 3 years |
| 4 | Jana Small Finance Bank | 8.75 | 365 days to 1095 days |
| 5 | Northeast Small Finance Bank | 9.50 | 546 days to 1111 days |
| 6 | Suryoday Small Finance Bank | 9.10 | Above 2 years to 3 years |
| 7 | Ujjivan Small Finance Bank | 8.75 | 12 months |
| 8 | Unity Small Finance Bank | 9.50 | 1001 days |
| 9 | Utkarsh Small Finance Bank | 9.10 | 2 years to 3 years; 1500 days |
| Private Bank | |||
| 10 | Bandhan Bank | 8.50 | 1 year 9 months |
| 11 | City Union Bank | 8.00 | 333 days |
| 12 | indian bank | 8.00 | 376 days to 540 days |
| 13 | DCB Bank | 8.55 | 19 months to 20 months |
| 14 | IDFC First Bank | 8.25 | 500 days |
| 15 | IndusInd Bank | 8.25 | 1 year to 2 years |
| 16 | Karur Vysya Bank | 8.10 | 760 days – Special Deposit |
| 17 | RBL Bank | 8.60 | 500 days |
| 18 | SBI Bank | 8.75 | Above 18 months to less than 2 years 3 days |
| 19 | Tamilnad Mercantile Bank | 8.00 | 400 days |
| 20 | Yes Bank | 8.50 | 18 months |
(Note:This list of FD rates of different tenures has been prepared by Paisa Bazaar.com. Paisa Bazaar has said that FD rate updates till September 11 have been collected from the official website of the respective banks. Let us tell you that banks and financial institutions keep changing their interest rates from time to time. In such a situation, investors are advised to confirm from the official website or nearest branch of the concerned bank before investing money in any FD scheme.,
Also read: Best FD rates: These 5 banks are giving the highest returns on FD, check details before investing
AU Small Finance Bank
AU Small Finance Bank is offering 8.50% annual interest on senior citizen FDs. Investors will have to keep their savings in the bank for one and a half years. In fact, this senior citizen FD giving the best returns will mature in 18 months.
Equitas Small Finance Bank
In this small finance bank, senior citizen FD of 444 days is getting interest at the rate of 9 percent per annum.
ESAF Small Finance Bank
In this, investors aged 60 years and above are getting interest at the rate of 8.75 percent per annum on FDs of 2 years or more and less than 3 years.
Northeast Small Finance Bank
In North East Small Finance Bank, senior citizens are getting 9.50% annual return on FDs of 546 to 1111 days.
Suryoday Small Finance Bank
This bank is giving 9.10% annual return on senior citizen FDs with tenure of more than 2 years and less than 3 years.
Ujjivan Small Finance Bank
Senior citizens are getting 8.75 per cent interest per annum on locking their savings in this bank for one year i.e. 12 months.
Unity Small Finance Bank
Like North East Small Finance BankUnity Bank is also offering senior citizens an interest rate of 9.50 per cent per annum on their FDs. To avail the benefit of these FD rates, investors have to lock their savings for 1001 days.
Utkarsh Small Finance Bank
Like Sarvodaya Small Finance Bank, Utkarsh Bank is offering 9.10% annual return on senior citizen FDs. However, to get the benefit of this FD rate, investors will have to invest their savings in a 1500 days scheme or a senior citizen FD with a tenure of more than 2 years and less than 3 years.
Similarly, around 11 private sector banks included in the list are offering annual returns between 8 to 8.75 percent on senior citizen FDs. City Union Bank, DBS Bank and Tamilnad Mercantile Bank are offering 8% annual return to senior citizens on FDs of different tenures. For citizen FDs, Karur Vysya Bank is offering 8.10%, IDFC First Bank and IndusInd Bank 8.25%, Bandhan Bank and Yes Bank 8.50%, DCB Bank 8.55%, RBL Bank 8.60% and SBM Bank India Senior is offering 8.75% annual return.
