Wednesday, April 24, 2024

FD Rates: These banks are giving the highest interest on FD for senior citizens, but keep one thing in mind

If senior citizens want to invest money in fixed deposits, many banks are offering attractive interest. These include both government and private banks. Some banks are even offering interest rates of 8% and above.

FD Rates in Different Banks: If you are a senior citizen and want to invest in fixed deposits, many banks are offering attractive interest rates. There are both public and private banks in these. Explain that after the increase in the repo rate by the Reserve Bank, public and private sector banks have increased the interest rates on fixed deposits. In some banks, the interest rates for senior citizens are 8 percent or more.

8.01 percent interest in Axis Bank:

Axis Bank is also among the banks offering good interest rates on fixed deposits for senior citizens. It is paying 8.01 percent interest on FDs with tenures ranging from 2 years to less than 30 months. This is a great option for senior citizens looking for an investment with good medium-term returns.

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PNB is giving 8.05 percent interest:

Apart from this, Punjab National Bank is also offering good interest rates for senior citizens. PNB is offering 8.05 percent interest on FDs with a tenure of 666 days to super senior citizens. Huh. This can be a good option for senior citizens looking for long-term investments.

8% interest in IDFC First Bank :

IDFC First Bank is also offering excellent interest rates on Fixed Deposits for senior citizens. The bank is offering 8 percent interest to senior citizens for tenures ranging from 18 months to 3 years. For senior citizens who want to get good returns in the medium term, this can be a good option for them.

Yes Bank is giving 8.25% interest:

Yes Bank is also offering higher interest rates on fixed deposits for senior citizens. The bank is offering 8 percent interest for a period of 25 months and 8.25 percent for a period of 35 months. For those who want higher returns in the long term, this can prove to be a great option.

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Good interest in these banks as well:

Apart from these banks, HDFC Bank is offering 7.75% interest to senior citizens. At the same time, ICICI Bank is also giving a maximum interest of 7.50 percent on special fixed deposits to senior citizens. Canara Bank is giving the highest interest of 7.65 percent for a period of 444 days.

Keep this in mind, senior citizens:

If a senior citizen has not submitted his PAN card, Form 15G, and 15H to the bank and the annual FD interest is Rs 50,000 or more, TDS at 10% will be applicable.

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