Amidst the ups and downs in the stock market, the traditional method of investment through fixed deposits can also prove to be a beneficial option for investors. In options like FD, senior citizens get more interest than common people.
However, this interest rate for senior citizens also varies from bank to bank. Apart from higher interest, many other benefits are also available for senior citizens. Some banks have recently changed the interest rates on FD.
Unity Small Finance Bank: Compared to many big banks, this small finance bank is offering higher interest on FD. For senior citizens, this bank is offering interest on FD at the rate of 09.50%, which will be for 1001 days.
The bank has changed the rates for February 2. This bank is offering interest at the rate of 9.25% on FDs of more than 6 months and 201 days and 1001 days. This bank is offering interest at the rate of 9.25% on 501-day FD. This bank is offering interest rate of 9.45% on 701-day FD.
Punjab & Sind Bank: This bank revised the interest rates on 1 February 2024. This bank is offering interest at the rate of 8.10% on FD of 440 days. This special FD is valid till 31 March 2024.
Karur Vysya Bank: The special FD of this bank has been revised on 1 February 2024. This bank is offering interest at the rate of 8% on 444-day FD.
Punjab National Bank: This public sector bank is offering interest at the rate of 7.75% on 400 day FD. This bank had revised the interest rates on 1 February 2024. The bank has increased the rates on 300 days FD by 80 basis points to 7.55%. For senior citizens it is 7.85%.
