• Source:JND
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Fixed Deposit: Senior Citizen FDs usually offer attractive interest rates over those offered to general investors. As a result of this increased rate of return, seniors get better returns on their investment. Senior Citizen FD Schemes provide a great way for seniors to grow their investments and meet their financial needs, ensuring a secure and happy retirement. Senior Citizens of Rs 50,000 can benefit from a deduction, making them more tax-efficient.

We all always want better returns on our investment. Even if, we put our money in risk-free instruments, we look for a place where return rates are higher. Below are the details of small finance banks offering higher interest rates on fixed deposits for senior citizens. 

Equitas Small Finance Bank FD Interest Rate

Equitas Small Finance Bank is offering interest rates ranging from 4% to 9% for fixed deposit tenures ranging from 7 days to 10 years to the general public. The maximum interest rate offered on FDs maturing in 444 days is 9 per cent. Senior citizens get a 0.50% additional interest rate. These rates are effective from August 21, 2023.

Fincare Small Finance Bank Interest Rate on FD

The small finance Bank offers interest rates ranging from 3.60% to 9.21% for tenures ranging from 7 days to 10 years for senior citizen FD. The maximum interest rate offered on FDs maturing in 750 days, which is 9.21%. The rates are effective from October 28, 2023.

Jana Small Finance Bank

Jana Small Finance Bank offers senior citizen FD interest rates ranging from 3.50% to 9% for tenures ranging from 7 days to 10 years. The maximum interest rate offered on FDs maturing in 365 days is 9%. FD rates will be effective from January 2, 2024.

Suryoday Small Finance Bank FD Interest Rate

Suryoday Small Finance Bank offers interest rates ranging from 4.50% to 9.10% for tenure ranging from 7 days to 10 years for senior citizen FD. The maximum interest rate offered on FDs maturing in two years and two days is 9.10%. The rates are effective from December 22, 2023.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank offers interest rates ranging from 4.60% to 9.10% for senior citizens FD, whose tenures range from 7 days to 10 years. The highest interest rate offered on FDs with a maturity of two to three years is 9.10%. The rates are effective from August 21, 2023.