These Banks gives Highest Interest Rate on FD
Senior residents can benefit from these banks' fixed deposit (FD) interest rates, which can go up to 9.21%. Interest rates on senior citizen FDs might occasionally be more enticing than those on regular investor accounts. This higher rate of return allows them to get better returns on their investments.
Senior Citizen FD Schemes give seniors the best opportunity to satisfy their financial needs and develop and safeguard their investments, ensuring a secure and enjoyable retirement. It should be noted that these programs are more tax-efficient for older folks since they qualify for a Rs 50,000 deduction on the income they earn from them under Section 80TTB of the Income Tax Act.
Which Bank gives Highest Interest Rate on FD?
Here are several small financing institutions that offer fixed-rate loans to older folks at higher interest rates.
Equitas Small Finance Bank FD interest rate
General residents may take advantage of FD interest rates from Equitas Small Finance Bank, which range from 4% to 9% for deposit terms of seven days to ten years. FDs with a maturity date of 444 days are provided the maximum interest rate, which is 9%. Seniors receive an additional 0.50 percent beyond the rates available to regular investors. The tariffs will be in force starting on August 21, 2023.
Fincare Small Finance Bank FD interest rate
Senior citizens can apply for FD interest rates from Fincare Small Finance Bank, which range from 3.60% to 9.21% for terms of seven days to ten years. FDs with a 750-day maturity period are provided the highest interest rate, which is 9.21%. The prices will be in force as of October 28, 2023.
Jana Small Finance Bank FD interest rate
Senior citizens can apply for FD interest rates from Jana Small Finance Bank, which range from 3.50% to 9% for terms of seven days to ten years. FDs with a 365-day maturity period are provided the maximum interest rate, which is 9%. The January 2, 2024, implementation date of the FD rates is set.
Suryoday Small Finance Bank FD interest rate
Senior persons can apply for FD interest rates from Suryoday Small Finance Bank, which range from 4.50% to 9.10% for terms of seven days to ten years. FDs due in two years and two days are provided the maximum interest rate, which is 9.10%. The rates for these fixed deposits will take effect on December 22, 2023.
Unity Small Finance Bank FD interest rate
Senior folks can take advantage of FD interest rates offered by Unity Small Finance Bank, which range from 4.50% to 9.50% for terms maturing between 7 days and 10 years. FDs with a maturity date of 1001 days are provided the maximum interest rate, which is 9%. The prices will be in force as of February 2, 2024.
Utkarsh Small Finance Bank FD interest rate
Senior persons can apply for FD interest rates from Utkarsh Small Finance Bank, which range from 4.60% to 9.10% for terms of seven days to ten years. The highest interest rate, 9.10%, is available for fixed-rate bonds with maturities of two years to three years. The rates for these fixed deposits will take effect on August 21, 2023.