Latest Bank Fixed Deposit Interest Rate For Senior Citizens: If you are planning to invest in Fixed Deposit. And you yourself are also a senior citizen, so this news can prove to be useful for you. For the last few months, some banks are offering tremendous interest on fixed deposits for their senior citizens and customers. Giving complete information about the bank giving the highest interest on FD to senior citizens. With the help of which you can make your decision.
RBI had increased the repo rate
It is known that the Reserve Bank of India is continuously increasing its repo rate. This is directly affecting the interest rates of the bank’s deposit scheme i.e. FD (Fixed Deposit), Recurring Deposit and Savings Account. Recently many banks have changed FD interest rates for senior citizens.
Banks are paying so much interest
DBS Bank and Union Bank of India have increased the interest rate on FDs to senior citizens this week. The new interest rates of Union Bank have come into effect from 25 November 2022. Public sector bank UBI is giving interest of up to 7.3 percent to its general customers on FDs maturing in 800 days and 3 years respectively. On the other hand, senior citizen customers are being given an increase of 0.5 percent interest on FDs of the same duration. That is, in UBI, senior citizen customers are being given 7.8 percent interest on FDs maturing in a period of 800 days and 3 years respectively.
RBL Bank (RBL Bank) is giving 7.75 percent interest on FD to its senior citizen customers. To get returns at this rate, customers above 60 years of age will have to invest in FD plans maturing in 725 days.
Bank of India
Bank of India This bank is offering 7.75% return on FD to senior citizens. For this, customers who have crossed the age of 60 years will have to invest in FDs with a duration of 777 days. This rate is applicable from 1 November 2022.
In Federal Bank, senior citizens are getting 7 percent interest on FDs with a duration of 750 days. For this, they have to deposit their savings in this FD of the bank for 750 days. This rate is applicable from 10 October 2022.
Yes Bank is giving 7.5% interest to its senior citizen customers on FDs with a tenure of 36 days to 10 years. The bank is giving 7.25 percent return on FDs with a tenure of 1.5 years to 3 years. These rates are applicable on 3 November 2022.
Senior citizens are getting 7.1% interest on FDs of 3 years to 10 years maturity of SBM Bank. This deposit is callable. That is, the investor will be allowed to surrender and withdraw his deposit before maturity. Non-callable deposit means that in this FD, withdrawal of money before maturity will not be allowed, but SBM Bank is offering 7.5 percent return. This rate is applicable from 15 November 2022 on the FD of the bank.
DBS Bank (DBS Bank) is paying 0.75 percent more interest than common depositors on FDs maturing in 600 days for senior citizen customers. In this, senior citizens are getting 7.75 percent interest from DBS Bank on FDs with maturity of 600 days. The bank is giving 7% return to its senior citizen customers on FDs maturing in 3 to 4 years, 4 to 5 years. The bank’s new FD rates have come into effect from 18 November 2022.
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank is giving 8.75 percent interest on FD to its senior citizen customers. Senior citizens are being given a return of up to 9 percent on the FD of Unity Small Finance Bank.