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What are Fixed Deposits (FD)?

Fixed deposit may be a financial investment instrument offered by banks & NBFCs wherein investors can deposit money and obtain a high rate of interest than a traditional bank account .

Fixed deposits for senior citizens

All the highest lenders including the depository financial institution of India (SBI), ICICI Bank, HDFC Bank, et al. give 50 basis points interest to senior citizens over and above the overall customers. Interest rates on fixed deposits are falling. But some small finance banks (SFBs) still offer relatively higher rates amid this falling rate of interest . Here may be a comparison of the FD rates offered by a number of the tiny finance banks. Let’s take a glance at the FD rate of interest offered by small finance banks like Suryoday, Fincare, Utkarsh, North East and Jana to senior citizens.

Suryoday Small Finance Bank latest FD interest rates for senior citizens effective 15 September

For 46 days to 90 days, 91 days to six months, Above 6 months to 9 months, the bank gives 5.5%, 6% and 6.75% interest respectively. FDs maturing in above 9 months to but 1 year will fetch 7% interest and 1 Year to 2 Years will fetch 7.25%. Term deposits maturing in above 2 years to three years will give 7.65%. Deposits maturing in above 3 years to but 5 years, the bank gives 7.75% rate of interest .The bank gives the highest interest for deposits maturing in 5 years at 8%. For FDs maturing in 5 to 10 years, Suryoday Small Finance Bank gives 7.5%.

Fincare Small Finance Bank latest FD interest rates for senior citizens effective 3 September

Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest starting from 4% to eight for senior citizens. For deposits maturing in but one year, Fincare Small Finance Bank gives 6.5% interest. For 12 months to 18 months 7.5%, 18 months 1 day to 24 months 7.6%. Fincare Small Finance Bank gives highest rate of interest at 8% for deposits maturing in 36 months 1 day to 42 months.

7 days to 45 days 4%

46 days to 90 days 4.5%

91 days to 180 days 5%

181 days to 364 days 6.5%

12 months to fifteen months 7.45%

15 months 1 day to 18 months 7.5%

18 months 1 day to 21 months 7.6%

21 months 1 day to 24 months 7.6%

24 months 1 day to 30 months 7.75%

30 months 1 day to 36 months 7.75%

36 months 1 day-42 months 8%

42 months 1 day-48 months 7.50%

48 months 1 day-59 months 7.50%

59 months 1 day-66 months 7%

66 months 1 day-84 months 6%

Utkarsh Small Finance Bank latest FD interest rates for senior citizens effective 1 September

FDs with maturity period 7 days to 90 days and 46 days to 90 days will fetch 3.75% and 4.25% rate of interest respectively. FDs maturing in 91 Days to 180 Days 5% and 181 Days to 364 Days 7%. For deposits maturing in one year to 699 days, the lender gives 7.75%.

 Utkarsh Small Finance Bank gives the very best rate of interest on deposits maturing in 700 days.

 For FDs maturing in 701 days to 3652 Days, Utkarsh Small Finance Bank gives 7.75%. North East Small Finance Bank latest FD interest rates for senior citizens effective 1 September For deposits maturing in 7 to 90 days, the bank gives 4.5% interest. For FDs maturing in 91-180 days, and 181-364 days North East Small Finance Bank gives 5% and 5.75% respectively. For FDs maturing in three hundred and sixty five days to 729 days, the bank gives 7.50% rate of interest . North East Small Finance Bank gives the very best rate of interest at 8% on deposits maturing in 730 days to but 1095 days. For 1096 days to but 1825 days 7% and 1826 days to but 3650 days 6.25% rate of interest .

Jana Small Finance Bank latest FD interest rates for senior citizens effective 11 August

Jana Small Finance Bank gives 4% to eight interest on FDs starting from 7 days to 10 years. The bank gives the very best rate of interest on deposits with maturity period 2 years to three years. These deposits will fetch an rate of interest of 8% to senior citizens. Jana Small Finance Bank latest FD interest rates are with effect from 11 August

7-14 days 4%

15-60 days 4.75%

61-90 days 6%

91-180 days 6.5%

181-364 days 7%

1 Year [365 Days] 7.4%

> 1 Year – 2 Years 7.5%

>2 Years-3 Years 8%

> 3 Year- < 5 Years 7.5%

5 Years 7.5%

> 5 Years – 10 Years 7%

By saan

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29 thoughts on “(FIXED DEPOSIT) interest rates at 8% for Senior citizens in India”
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