Business / Which banks are giving the most interest to senior citizens on fixed deposits

Senior citizens have been offered by many banks on March 31 on fixed deposits. All banks are offering a higher rate of interest on fixed deposits. But if we talk about senior citizens, 0.25 to 0.75 interest rate is being given on fixed deposit on regular FD. In private banks, Yes Bank is offering 7.50% more interest.

Vikrant Shekhawat : Mar 22, 2021, 08:52 PM
New Delhi: If senior citizens are investing the most in today's time, then it is a fixed deposit. A big reason for this is security and better returns. In view of this, senior citizens have been offered by many banks on March 31 on fixed deposits.

Benefits of investing in fixed deposits

Almost all banks are offering higher interest rates on fixed deposits. But if we talk about senior citizens, 0.25 to 0.75 interest rate is being given on fixed deposit on regular FD. While investing in fixed deposits, we should keep in mind that we cannot withdraw money whenever we want, if we do, then we will have to pay a penalty. Therefore, it is better not to withdraw from the FD for the time taken. Senior citizens also get tax exemption on FD. He can also appoint his successor as well.

  • Status of private banks
Private Banks

Rate of interest
Yes Bank7.50%
DCB Bank7.25%
RBL Bank 7.10%
Bandhan Bank 6.25% 
  • State of public banks
BankIntrest Rate
Canara Bank6.00 %
Union Bank6.00%
Bank of india5.80%
SBI5.80%
Punjab and Sind Bank5.75%