Image Source : FILE PHOTO Check fixed deposits for senior citizens.
Fixed Deposits (FDs) have always been a trusted investment option for senior citizens as these FDs offer good returns with high security. With these FDs, senior citizens seek financial stability and regular income. Senior Citizen FDs also offer higher interest rates and additional benefits, making them a popular choice among retirees.
Senior Citizen FDs: Check details
Banks and NBFCs are offering Senior Citizen Fixed Deposits exclusively for individuals aged 60 and above. These FDs offer higher interest rates than regular FDs, giving retired employees a reliable source of income and financial security during their golden years.
Senior Citizen FDs: Check key benefits
Higher Interest Rates: These Senior Citizen FDs offer interest rates 0.25% to 0.75% higher than standard FDs, enhancing returns over time, particularly for those relying on this income post-retirement.
Secured Returns: These FDs also give consistent returns, making them ideal for conservative investors who prioritize safety over high-risk investments.
Flexible Income: Retired employees can receive interest payments monthly, quarterly, semi-annually, or annually, providing flexibility to meet varying financial needs.
After careful consideration, senior citizens should optimize their FD investments, ensuring financial security and a comfortable retirement.
Senior Citizen FDs: List of banks offering best returns
Bank of Baroda
7.80
400 days – Bob Utsav
7.35
7.65
7.40
Bank of India
7.80
400 days
7.30
7.25
6.75
Bank of Maharashtra
7.90
333 days
7.25
7.00
7.00
Canara Bank
7.75
444 days
7.35
7.30
7.20
Central Bank of India
7.95
444 days
7.35
7.25
7.00
Indian Bank
7.80
1 year to 375 days
6.60
6.75
6.75
Indian Overseas Bank
7.80
444 days
7.60
7.00
7.00
Punjab National Bank
7.75
400 days
7.30
7.50
7.00
Punjab & Sind Bank
7.95
555 days
6.80
6.50
6.50
State Bank of India
7.75
444 days – Amrit Vrishti
7.30
7.25
7.50
Union Bank of India
7.80
456 days
7.30
7.20
7.00
