Best FDs 2024: 6 Banks Offering Up To 9.50% Interest Rates On Senior Citizens FDs

Fixed deposits in India have emerged as one of the most popular investment options among scores of senior citizens. The primary reason is the guaranteed returns, safety and steady income for senior citizens during retirement phase. Additionally, senior citizens get higher rate of interests than regular citizens on fixed deposits. Five leading small finance banks that are offering senior citizens over 9% rate of interest on fixed deposits. Check details below:

1. Unity Small Finance Bank: The bank is offering an interest rate of 9.50% to elderly for the tenure of 1001 days. Senior citizens can get an interest rate of 8.35% for 1-year tenure and 8.65% for FDs maturing in 3 years.

2. Suryoday Small Finance Bank: The SFB offers attractive interest rates on senior citizens fixed deposits. If a person above 60 years of age opt for 2 years 1 month FD, he/she can get can interest rate of 9.25%. The bank offers 7.35% interest rate for FDs with the maturity period of 1-year and can get an interest rate of 9.10% for FDs with 3-years tenure.

3. Utkarsh Small Finance Bank: Senior citizens can fetch an interest rate of 9.10% on fixed deposits maturing in 2 years-3 years. The bank offers an interest rate of 8.60% for 1-year tenure FDs and 9.10% for FDs with the maturity period of 3-years.

4. Fincare Small Finance Bank: The bank offers an interest rate of 9.21% to senior citizens for FDs with the tenure of 750 days, 8.25% for 1-year tenure FD, and 8.71% for 3-years tenure FD.

5. NorthEast Small Finance Bank: It offers senior citizens an interest rate of 9.25% for FDs maturing in 555 days and 1111 days. Senior citizens can get an interest rate of 8.50% and 8.75% for 1-year and 3-years tenure FDs, respectively.

6. Equitas Small Finance Bank: If you are above 60 years of age, you can opt for Equitas Small Finance Bank FDs to get the highest interest rate of 9.00% for 444 days FD. The bank offers 8.70% interest rate for 1-year tenure FD and 8.50% interest rate for 3-years tenure FD.