FD For Senior Citizens: According to the housing finance company, the increased interest rates are valid for all new and fresh FDs made before March 31, 2024.
FD For Senior Citizens: PNB Housing Finance has brought a special gift for senior citizens. The housing finance company is offering 8.30 percent interest to senior citizens on its fixed deposits (FD). However, this offer is for limited time.
According to PNB Housing Finance, interest on 23-month fixed deposits will be 8 percent per annum for individuals below 60 years of age and 8.30 percent per annum for senior citizens.
According to the housing finance company, the increased interest rates are valid for all new and fresh FDs made before March 31, 2024. Investors can benefit from these rates with a minimum deposit of Rs 10,000.
Why do senior citizens invest in FD?
FD stands as a preferred investment option among senior citizens in India, offering a secure and reliable option of income. Investing in this has many benefits including tax savings.
ICICI Bank also increased the interest rate on FD
ICICI Bank has changed the interest rates offered on its fixed deposits (FD). According to the information given by the bank, the new rates have become effective from February 17.
According to the bank, the new FD rates are applicable for deposits up to Rs 2 crore. After the change in rates, now senior citizens will get maximum interest rate of 7.75 percent on fixed deposits while common citizens will get maximum interest of 7.2 percent.
According to the information given on the website of ICICI Bank, citizens can invest a minimum of Rs 10,000 to start an FD.
ICICI Bank is offering an interest rate of 3 percent for FDs maturing between 7 days to 29 days, while you will get an interest rate of 3.5 percent for FDs maturing between 30 days to 45 days.
Apart from this, the bank is offering an interest rate of 4.25 percent for FDs maturing between 46 days to 60 days.
4.5% interest on FD maturing between 61 days to 90 days
On FDs maturing between 61 days to 90 days, you will get an interest rate of 4.5 percent, whereas on FDs maturing between 91 days to 184 days, you will get an interest rate of 4.75%.
At the same time, you will get an interest rate of 5.75% on FD maturing between 185 days to 270 days. 6 percent interest is being offered on FDs maturing between 271 days to less than one year.
