FD Interest Rate for senior citizens : FD is a traditional investment option in India. Even today, a large number of people invest in fixed deposits due to low risk and almost guaranteed returns. If you want to get more returns in FD, then you can get FD done in the name of your parents. Because banks usually offer 0.50 percent higher interest rate to senior citizens. Let us know what interest rates the big banks of the country are offering on FD to senior citizens.
HDFC Bank
HDFC Bank, the country’s largest private bank, is offering 7.10 percent interest rate to senior citizens on FD of 1 year to 15 months. The bank is offering 7.60 percent interest rate on FD with a tenure of 15 to 18 months. At the same time, the bank is offering 7.5 percent interest rate on FDs ranging from 18 months to 2 years and 11 months. The bank is offering 7.75 percent interest rate on FD of 5 to 10 years. At the same time, 7.7 percent interest rate is being given on FD ranging from 4 years 7 months to 55 months.
ICICI Bank
ICICI Bank is offering interest rates ranging from 7 to 7.25 percent to senior citizens. 7.25 percent interest rate is being given on FD from 1 year to 15 months. 7.05 percent interest rate is being offered on FD ranging from 15 months to 2 years.
State Bank of India (SBI)
The country’s largest government bank SBI is offering interest rates ranging from 7.3 to 7.5 percent on FDs of all tenures. The interest rate on FDs with tenure ranging from one year to less than 2 years is 7.30 percent. The interest rate on FD for 2 to 3 years is 7.5 percent. The interest rate on FD for 3 to 5 years is 7.25 percent. The interest rate on FD with tenure more than 5 years is 7.5 percent. Apart from this, 7.6 percent interest rate is being given to senior citizens in the 400 day Amrit Kalash Scheme. The last date for this scheme is 31st March.
Bank of Baroda
Bank of Baroda is offering interest rates on FD ranging from 7.35 percent to 7.75 percent. The bank is offering 7.35 percent interest rate to senior citizens on FD of one to two years. 7.75 percent interest rate is being offered on FD with a tenure of 2 to 3 years. The bank is offering 7.65 percent interest rate on 399 day Baroda Tricolor Plus Deposit Scheme.
Kotak Mahindra Bank
This private sector bank is offering interest rates ranging from 6.7 percent to 7.8 percent depending on different tenures. The bank is offering 7.6 percent interest rate on one year FD. At the same time, 7.65 percent interest is being given on FD of 390 days. Apart from this, 7.8 percent interest rate is being offered on FDs of tenure ranging from 23 months to less than 2 years.
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