Senoir Citizens Fixed Deposit: Good news for senior citizens! Up to 8.1% interest is available on FD, check which bank is giving how much benefit

Senoir Citizens FD interest Rates: Everyone thinks of saving some a part of their earnings and investing it in order that they don’t face any downside in future. In such a scenario, FD proves to be a greater possibility for the folks. Now the query arises that the place to make investments to get good returns, so as we speak we’re telling you which bank is providing how much interest.

– Advertisement –

In as we speak’s time, folks principally use Fixed Deposit (FD) for saving. Especially senior residents put money into these. They select this for their common earnings. Senior residents desire to hold their cash in mounted deposits. This is a gorgeous funding possibility for them. Both private and non-private sector banks supply them particular FD schemes.

Senior residents can benefit from these FD schemes by evaluating interest charges. Senior residents can earn up to 8.1% interest on three-year FD. This charge is relevant on deposits up to Rs 2 crore. Senior residents trying to make investments ought to benefit from the excessive interest charges prevailing available in the market. Here we have now instructed in regards to the interest charges provided by completely different banks on three-year FD for senior residents.

interest charges comparability

• Bank Name Interest Rate
• DCB Bank 8.10%
• RBL Bank 8.00%
• YES BANK 8.00%
• Bandhan Bank 7.75%
• Bank of Baroda 7.75%
• IDFC Bank 7.75%
• IndusInd Bank 7.75%
• Axis Bank 7.60%
• Kotak Mahindra Bank 7.60%
• Punjab National Bank 7.50%
• HDFC Bank 7.50%
• ICICI Bank 7.50%

Some advantages of FD for senior residents

excessive interest charges

Senior residents get increased interest charges than common FDs. Some banks additionally supply particular FD schemes for senior residents that provide even increased interest charges.

Tax benefit

Senior residents get tax advantages on interest earned on FD (Interest earned on FD for senior residents). They can avail tax exemption on interest earnings up to ₹50,000 underneath Section 80TTA.

Security

FDs are insured by the Deposit Insurance Corporation of India (DIC), which protects deposits up to Rs 5 lakh.

Regular movement of earnings

Interest earned from FD offers an everyday movement of earnings for senior residents.

Resilience

FDs are available for completely different tenures, so senior residents can select the scheme as per their wants.

– Advertisement –