Senior citizen Fixed Deposit Interest Rate: Senior citizens prefer to invest in Fixed Deposit. Now many public and private sector banks are giving up to 8 percent interest on FD to senior citizens. Elderly people should invest a part of their savings in fixed deposits as it provides liquidity.
Senior citizen Fixed Deposit Interest Rate : Senior citizens prefer to invest in Fixed Deposit. Now many public and private sector banks are giving up to 8 percent interest on FD to senior citizens. Elderly people should invest a part of their savings in fixed deposits as it provides liquidity. It helps in creating emergency fund. However, the interest on bank FD is taxable. Here we are telling you about the interest available to senior citizens on 3 year FD.
Yes Bank
Yes Bank and IndusInd Bank are offering 8 percent interest on three-year FD to senior citizens. It is offering the best interest rates among private banks. An investment of Rs 1 lakh will grow to Rs 1.27 lakh in three years.
Bank of Baroda
Bank of Baroda is offering 7.75 percent interest on three-year FD for senior citizens. These are the best interest rates among public sector banks. An investment of Rs 1 lakh grows to Rs 1.26 lakh in three years.
Axis Bank
Axis Bank is offering 7.60 percent interest on three-year FD for senior citizens. An investment of Rs 1 lakh will grow to Rs 1.25 lakh in three years.
HDFC Bank
HDFC Bank, ICICI Bank and Punjab National Bank offer 7.50 percent interest on three-year FD to senior citizens. An investment of Rs 1 lakh will grow to Rs 1.25 lakh in three years.
Canara Bank
Canara Bank gives 7.30 percent interest on three-year FD to senior citizens. An investment of Rs 1 lakh will grow to Rs 1.24 lakh in three years.
Bank of India
Bank of India is offering 7.25 percent interest on three-year FD for senior citizens. An investment of Rs 1 lakh will grow to Rs 1.24 lakh in three years.
Federal Bank
Federal Bank is offering 7.10 percent interest on three-year FD for senior citizens. An investment of Rs 1 lakh will grow to Rs 1.24 lakh in three years.
