Earn up to 9.5% FD rate: Seven banks offering highest 3-year fixed deposit interest rates for senior citizens
Fixed-deposit (FD) investors are a happy lot due to banks' continuous increase in interest rates over the last two years. Certain banks are now offering FD interest rates that exceed 9%.#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;} Here's a list of small finance banks offering up to 9.5% on senior citizen FDs for amounts above Rs 3 crore. (Senior citizens are those aged 60 and above).
North East Small Finance Bank latest senior citizen FD rate
North East Small Finance Bank is offering up to 9.5% interest rate on its FD for a three-year tenure.Suryoday Small Finance Bank latest FD rate for senior citizens
Suryoday Small Finance Bank is offering an interest rate of 9.1% on FDs maturing in three years to senior citizensUtkarsh Small Finance Bank latest FD rate for senior citizens
Utkarsh Small Finance Bank is offering an interest rate of 9.1% on FDs maturing in three years to senior citizens.Bank nameInterest rateNorth East Small Finance Bank9.50%Suryoday Small Finance Bank 9.10%Utkarsh Small Finance Bank 9.10%Jana Small Finance Bank 8.75%Unity Small Finance Bank 8.65%Equitas Small Finance Bank8.50%AU Small Finance Bank 8%Source: paisabazaar.com as of August 14, 2024
Jana Small Finance Bank latest senior citizen FD rate
Jana Small Finance Bank is offering an interest rate of 8.75% on FDs maturing in three years to senior citizens.Unity Small Finance Bank latest senior citizen FD rate
Unity Small Finance Bank is offering an interest rate of 8.65% on FDs maturing in three years to senior citizens.Equitas Small Finance Bank latest senior citizen FD rate
Equitas Small Finance Bank is offering an interest rate of 8.5% on FDs maturing in three years to senior citizens.AU Small Finance Bank latest senior citizen FD rate
AU Small Finance Bank is offering an interest rate of 8% on FDs maturing in three years to senior citizensWhen is TDS deducted on bank FD interest rate
TDS is deducted from interest given by bank FD if the interest exceeds Rs 40,000 in a year for individuals. For senior citizens, 10% TDS is deducted only when the interest exceeds Rs. 50,000.Disclaimer: Owing to their business model, small finance banks cannot be kept on par with other scheduled commercial banks. Hence FDs from small finance banks are also not comparable in terms of risk profile to full-service banks. However, when it comes to insurance, do keep in mind that deposits in small finance banks are also insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. Most of the experts advise layman retail investors to keep their exposure limited in FDs of small finance banks so that it is well within DICGC cover of Rs 5 lakh including principal and interest.
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This story originally appeared on: India Times - Author:Faqs of Insurances
