Attractive Fixed Deposit Rates for Senior Citizens Amid Interest Rate Concerns

High FD Rates for Senior Citizens

In light of declining interest rates, senior citizens (aged 60 and above) have received some encouraging news. Several small finance banks in the country are currently offering appealing interest rates ranging from 8.25% to 8.8% on three-year fixed deposits (FDs). If you are seeking a secure investment option, these FD plans could be beneficial for you.

Suryoday Small Finance Bank: Highest Rate

Suryoday Small Finance Bank is providing the highest interest rate of 8.8% on three-year FDs for senior citizens, applicable for deposits up to ₹3 crore.

Other Banks' Offers

Utkarsh Small Finance Bank, based in Uttar Pradesh, is offering an interest rate of 8.75% on three-year FDs, which is also considered quite competitive in the market.

The interest rates offered by these banks are significantly better than those of traditional banks. However, it is crucial to consider factors such as the bank's credit rating, deposit insurance, and liquidity before investing. For senior citizens planning for a steady income, these FD options can strengthen their investment portfolio.