FD interest rates of up to 8.05%: Best interest rate on senior citizen FDs maturing in three years In light of this senior citizens can now take advantage of higher interest rates being offered by various private, public and foreign banks. Read here to know more about FD interest rate offered to senior citizens
Fixed deposits (FDs) are an attractive and secure fixed-income investment instrument for many senior citizens. For seniors who are planning to lock their money in FDs, it is a good time to invest as several banks are still offering high interest rates on deposits. Interest rates on senior citizen FDs maturing in three years can go up to as high as 8.05% among public and private sector banks. Read below to find out the highest interest rates currently available on senior citizen FDs maturing in three years.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} Do note all the interest rates are applicable for FDs below Rs 3 crore maturing in three years and for individuals aged above 60 years but below 80 years of age.
DCB Bank India senior citizen FD rate
DCB Bank India offers an interest rate of 8.05% on FDs maturing between more than 26 months and less than 37 months for senior citizens.RBL Bank senior citizen FD rate
For senior citizens, private sector bank RBL Bank offers an interest rate of 8% on FDs maturing between 289 days (24 months and a day) and 432 days (36 months). YES Bank senior citizen FD rate
For senior citizens, private sector bank YES Bank offers an interest rate of 8% on FDs maturing between 24 months and 36 months.Bandhan Bank senior citizen FD rate
For senior citizens, Bandhan Bank offers an interest rate of 7.75% on FDs maturing between three years and less than five years.IDFC First Bank senior citizen FD rate
Bandhan Bank offers an interest rate of 7.75% on senior citizen FDs maturing between two years and one day and three years.IndusInd Bank senior citizen FD rate
IndusInd Bank offers an interest rate of 7.75% on senior citizen FDs maturing between two years and seven months and three years and three months.Bank of Baroda senior citizen FD rate
Bank of Baroda offers an interest rate of 7.75% on senior citizen FDs maturing between two years and three years.Table showing the FD interest rate offered for senior citizens
BankInterest rateDCB Bank8.05%RBL Bank8%YES Bank8%Bandhan Bank7.75%IDFC First Bank7.75%IndusInd Bank7.75%Bank of Baroda7.75%Axis Bank7.60%Federal Bank7.50%HDFC Bank7.50%Deutsche Bank8%Source:Paisabazar.com as of June 19, 2024
Axis Bank senior citizen FD rate
Axis Bank offers an interest rate of 7.6% on senior citizen FDs maturing between 30 months and less than three years.Federal Bank senior citizen FD rate
Federal Bank offers an interest rate of 7.5% on senior citizen FDs maturing between three years and less than five years.HDFC Bank senior citizen FD rate
HDFC offers an interest rate of 7.5% on senior citizen FDs maturing between two years 11 months one day and less than three years.Foreign bank Deutsche Bank offers an interest rate of 8% on senior citizen FDs maturing between two years and three years.
Senior citizens get additional interest rates on FDs from banks. This additional interest rate is over and above the rates offered to individuals under 60 years of age. Further, the income tax law also gives senior citizens the benefit of a higher threshold of TDS deduction. Banks have to deduct TDS on FDs if the interest amount exceeds Rs 50,000 in a financial year. However, if a senior citizen estimates his/her taxable income to remain below the basic exemption limit, he/she has the option to avoid TDS. All he/she needs to do is to submit form 15H to his bank. Submitting form 15H to banks will prevent TDS from getting deducted.
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This story originally appeared on: India Times - Author:Faqs of Insurances
