Senior Citizen FD Rates: Top 5 Banks Offering Interest Up To 7%

Senior Citizens FD Rates : If you are above 60 years of age and you are looking for investment option then it is best to do FD in bank. Equity market is full of risk and if you want to invest without risk then it is a good idea to make a fixed deposit in a bank with high interest rate. Right now some banks are offering higher interest rates on fixed deposits.

You can also try the method of investing in tax saving FDs. Remember these tax saving FD plans come with a lock-in period of 5 years. Tax saving FD plan is the most commonly used plan for all individuals. You can also invest in tax saving FDs to save tax under Section 80C of the Income Tax Act 1961.

Here are 5 banks that offer an interest rate of up to 7% on FDs of Senior Citizens:-

indusind bank

IndusInd Bank offers high interest rates on FDs of 2 years to 61 months to senior citizens.

tenure FD interest rates for senior citizens
Above 1 year and less than 2 years 6.50%
Above 2 years and less than 61 months 7.00%

Yes Bank

Yes Bank also offers the same interest rate as IndusInd Bank. Yes Bank gives an interest of up to 7% on FDs of 3 years to 10 years.

Yes Bank has updated on interest rate with effect from 04 March 2022.

tenure FD interest rates for senior citizens
9 months to 1 year 5.50%
1 year to 18 months 6.25%
18 months to 3 years 6.50%
3 years to 10 years 7.00%

RBL Bank

RBL Bank offers a high interest rate of up to 7% on FDs of 2 years to 3 years.

The interest rate of RBL Bank is updated with effect from February 03, 2022.

tenure FD interest rates for senior citizens
12 months to 24 months 6.75%
24 months to 36 months 7.00%
36 months to 60 months 6.80%
60 months 2 days to 240 months 6.25%

DCB Bank

DCB Bank offers a higher interest rate of up to 6.75% for 18 months to 120 months.

The interest rate of DCB Bank is updated with effect from March 07, 2022.

tenure FD interest rates for senior citizens
up to 12 months 6.05%
More than 12 months and less than 15 months 5.80%
Above 15 months and less than 18 months 6.50%
18 months to 120 months 6.75%

IDFC First Bank

IDFC First Bank offers an interest rate of up to 6.50% on deposits of 5 years to 10 years.

The interest rate has been updated with effect from 21st January 2022.

tenure FD interest rates for senior citizens
1 year to 2 years 6.25%
2 years 1 day to 3 years 6.50%
3 years 1 day to 5 years 6.75%
5 years 1 day to 10 years 6.50%

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