Highest FD Rates for Senior Citizens
Where will senior citizens get the highest interest on an FD? The Top 10 Banks list is here: The Reserve Bank of India last year cut the repo rate by a bumper 1.25 percent. While the repo rate reduction by the RBI has reduced the loan interest rates, on the other hand the banks have also reduced the interest paid on FD accounts. Here we will know about the 10 banks which are offering the highest interest on FD accounts to senior citizens above 60 years of age.
We will tell you about the specific periods on which banks are offering the highest returns. Let us tell you that in the list of top 10 banks that offer the highest interest on FD accounts to senior citizens, not a single government-owned bank is included. All of the top 10 banks in the list are private sector banks.
Top 10 Banks Paying Highest Interest on FDs to Senior Citizens:
1) CSB Bank is offering 7.30 percent interest on 13-month FD account to senior citizens.
2) Tamil Nadu Mercantile Bank is offering 7.40 percent interest to senior citizens under the 400-day special FD scheme.
3) IDFC FIRST Bank is offering 7.50 percent interest to senior citizens on FD accounts with tenors ranging from 450 days to 5 years.
4) Jammu and Kashmir Bank is offering 7.50 percent interest to senior citizens under the 888-day special FD scheme.
5) IndusInd Bank is offering 7.50 percent interest to senior citizens on FD schemes with tenors of 18 months to 19 months.
6) SBM Bank India is offering 7.60 percent interest to senior citizens on FD accounts with tenure of more than 15 months and 3 years and 2 days.
7) DCB Bank is offering an interest rate of 7.65 percent on FD schemes for senior citizens with tenors ranging from 60 months to 61 months.
8) Bandhan Bank is offering an interest rate of 7.70 percent to senior citizens on FD accounts with a tenure of more than 2 years and less than 3 years.
9) RBL Bank is a private bank that is offering 7.70 percent interest on FDs with tenure of more than 18 months and 3 years to senior citizens.
10) Private sector Yes Bank is offering the highest interest rate of 7.75 percent to senior citizens on FD accounts with a tenure of more than 3 years and less than 5 years.
