Senior citizens fixed deposit: These banks are giving you more interest for your good returns. Because FD is the main means of preferred investment for senior citizens.
Senior citizens fixed deposit: If you are a senior citizen and want to invest in Fixed Deposit of a bank, then these banks are offering you a higher interest rate for your good returns . FD is the most preferred investment for senior citizens. If you are also making an investment plan, then you can get FD done in these banks. These banks are giving you more benefits with less investment.
After the repo rate hike by RBI from May 2022, banks are increasing lending as well as interest on fixed deposits. Hence, FD investors are happy to see higher returns on their deposits. With the increase in the repo rate, the interest rates are going up. Repo rate is the rate at which banks borrow money from the Reserve Bank of India (RBI).
RBI increased the interest rate
In view of rising inflation, the Reserve Bank has increased the repo rate by 25 basis points i.e. 0.25 percent on 8 February. After the new revision, the repo rate has increased to 6.5%. This was the sixth time that the Reserve Bank of India (RBI) has increased the repo rate. RBI has increased the repo rate by 2.50% since May last year.
Senior citizens are getting more interest on these banks
Bandhan Bank FD Rates for Senior Citizens
- 600 Days (1 Year, 7 Months, 22 Days) – 8.50%
Yes Bank FD Rates for Senior Citizens
- Time – 35 Months, Interest Rate – 8.25%
Axis Bank FD Rates for Senior Citizens
- 2 Years < 30 Months – 8.01% IDFC First Bank FD Rate for Senior Citizens
- More than 2 years 1 month to less than 2 years 6 months – 8.25%
Sunrise FD Rates for Senior Citizens
- More than 1 year 6 months to 2 years – 8.51%
RBL Bank FD Rates for Senior Citizens
- 453 to 459 days (15 months) – 8.30%
DCB Bank FD Rates for Senior Citizens
- 18 months to less than 700 days – 8.00%
Equitas Small Finance Bank FD Rates for Senior Citizens
- For 888 days – 8.5%