Bank FD Rates: Yes Bank is currently providing 0.75 percent more interest on FD to senior citizens than the normal rate.
Bank FD Rates: If you too are planning to get a fixed deposit (FD) for your parents or for any senior citizen, then there is good news for you. Private sector Yes Bank has increased the interest rates on FDs of Senior Citizens (yes bank fd rates).
Now senior citizens will get the benefit of higher interest than before. Yes Bank is currently providing 0.75 percent more interest on FDs to senior citizens than the normal rate.
Yes Bank is offering 7 per cent interest rate to senior citizens on FDs up to Rs 2 crore for tenures of 3 to 10 years, which is 0.75 per cent higher than the normal rate of 6.25 per cent.
Yes Bank offers senior citizens an annualized yield of 7.19 per cent on tenures of 3-10 years as against the normal rate of 6.40 per cent.
The bank offers a rate of 3.75 per cent to senior citizens for tenures ranging from 7 days to 14 days, which is 0.50 per cent higher than the normal rate of 3.5 per cent. Yes Bank offers an additional interest rate of 0.5-0.75 per cent to senior citizens over several tenures.
SBI Fixed Deposit Interest Rate
State Bank of India provides a rate of 5.95 per cent to senior citizens with tenure of less than 3 to 5 years. At the same time, an interest rate of 6.30 percent is available for time periods up to 5 years and 10 years.
Apart from this, SBI has introduced SBI Wecare deposits for senior citizens in the retail TD segment. In which senior citizens will be paid an additional rate of 30 basis points in addition to the existing 50 basis points for 5 years and above on their Retail TD. However, 30th September, 2022 is the last date to avail this scheme.
HDFC and ICICI Bank interest rates
HDFC Bank and ICICI Bank are offering 6.35 per cent interest rate to senior citizens on FDs of less than Rs 2 crore for tenures ranging from 5 years to 10 years. Not only is Fixed Deposit a great investment for safe returns, but one can also save tax up to Rs 1.5 lakh. In such a situation, investing in FD is considered better to get better returns.
