Extremely Popular FD Offers for Seniors
Deposit seekers particularly the senior citizens seeking fixed income, safe and secure investment avenue can avail small finance banks’ comparatively attractive FD rates. These banks are some of those charged some of the highest interest rates on the short-term FDs, and more so on the ones ranging up to 15 months.
Lowest Interest Rate from Small Finance Banks
Equitas Small Finance Bank is offering 9% interest on the fixed deposits with having tenure of upto 15 months. Ujjivan Small Finance Bank offers the Read More, 8. 75% interest rate for a 12 months’ Fixed Deposits. Such are some of the top available rates that promises high returns for the senior investors.
Other Top Performers
Based on time deposit the two financial institutions provide, Bandhan Bank offers 8. 35% for twelve months fixed deposit whereas IndusInd Bank offers 8. 25% for the same period. If the investment tenure is slightly longer, they can invest their money in DBS Bank 376 day and Karur Vysya Bank 444 day FD that gives 8% interest rate.
Investment Safety and Security
About FD investment, the senior citizens can feel relieved knowing that their money is safe. Deposit Insurance and Credit Guarantee Corporation (DICGC), which is a wholly owned subsidiary of RBI insures fixed deposit investment up to ₹5 lakh. This makes sure that should a bank develop some sort of disturbing fate, senior investors’ money is safe.
Thus, by considering these promising FD options, older people will be able to get the highest returns possible while investing securely.
