Interest offered to senior citizens on FD is slightly higher than what is offered to other individuals.
Bank fixed deposit (FD) is a risk-free investment. Interest offered on senior citizen FDs is slightly higher than what is offered to other individuals. Just like the banks, small finance banks gives higher interest rate to senior citizens. Jana, Fincare, Utkarsh and Suryoday Small Finance Bank gives more than 9% interest rate to senior citizens on select buckets.
Jana Small Finance Bank FD interest rates
Jana Bank provides regular fixed deposits for investors who want to earn high interest on their investment with no risk involved. Senior citizens can invest in fixed deposits and earn 60 bps more than the interest rate offered to any regular individual. The bank offers 5.60% to 9.10% interest to senior citizens for FDs maturing in 7 days to 10 years. The bank gives the highest interest rate at 9.10% on deposits maturing in 499 days. Deposits with 3-year maturity period will fetch an interest rate of 9%. Apart from this, the bank gives 8.85% interest to senior citizens on deposits maturing in 199 days, 366 days to 498 days, 500 days to less than 3 years and 3 years to 5 years. For deposits maturing in 7 days to 10 years, Jana Bank gives interest rate ranging from 5% to 8.5% to general customers depending upon the tenure they chose.
499 days – 9.10%
3 years (1095 days) – 9%
Fincare Small Finance Bank FD interest rates
Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest ranging from 4.5% to 9.5% to senior citizens. For general customers the FD interest rate ranges from 4% to 9%. The bank gives highest interest rate at 9.50% for deposits maturing in 24 months 1 day to 36 months. For FDs maturing in 21 months 1 day to 24 months, senior citizens will get 9% interest. For 18 months 1 day to 21 months, the bank gives 8.75% interest rate.
24 months 1 day to 36 months – 9.50%
21 months 1 day to 24 months – 9%
Utkarsh Small Finance Bank FD interest rates
Utkarsh Small Finance Bank gives interest rate ranging from 5.25% to 9% to senior citizens on FDs maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits with maturity period 456 days to less than 2 years. These deposits will fecth senior citizens 9% interest. For deposits maturing in 5 years, the bank gives 8.85% to senior citizens. For general cutomers, the rate of interest varies between 4.75% to 8.50%.
456 days to less than 2 years – 9%
Suryoday Small Finance Bank FD interest rates
Suryoday Small Finance Bank provides regular fixed deposit to its customers with a minimum deposit amount of ₹1000. It is ideal for investors who want to earn high interest on their deposits. The bank gives interest ranging from 4% to 9% on deposits maturing in 7 days to 10 years. Suryoday Small Finance Bank Senior Citizen Fixed Deposit provides preferential rates to senior citizens over regular individuals. Senior citizens get interest rates ranging from 4.5% to 9.25%, depending upon the maturity period of the deposits. The bank gives highest interest rate at the rate of 9.25% on deposits maturing in 5 years. These FDs are known as Suryoday Bank Tax Saver FD. For term deposits maturing above 2 years to 3 years, the bank gives 9% to senior citizens.
Above 2 years to 3 years – 9%
5 years – 9.25%
