Banks offering highest interest rate to senior citizens for FDs
Senior citizens prefer fixed deposits for the risk-free returns they offer. They can maximize their returns by choosing the best rates that banks are offering
Senior citizens prefer fixed deposits (FDs) for the security they offer, their guaranteed returns and low risk. Banks often offer higher interest rates for this demographic, which prefers risk-free investment.
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To maximise FD returns, select a bank with competitive interest rates. Here's a list of top private and public sector banks offering the best FD rates on deposits of up to Rs 1 crore. The list is based on BankBazaar data as of September 1.
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IndusInd Bank offers senior citizens a 7.5 percent interest rate on two-year FDs, the highest among private banks.
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Axis Bank provides a 7.35 percent interest rate on 5-10 year FDs for senior citizens.
