Top banks offer high fixed deposit rates for senior citizens, with rates up to 7.5 percent. IndusInd Bank, Axis Bank, HDFC Bank, and others provide attractive options for deposits up to Rs 3 crore.
Senior citizens favour fixed deposits for their secure nature and guaranteed returns. Top banks offer high FD rates, with IndusInd Bank's 7.5% interest rate for two-year FDs being the highest among private banks.
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 favor fixed deposits for secure returns and financial stability, with top banks offering up to 7.50 percent interest rates on FDs up to Rs 1 crore.
SBI's Patrons Fixed Deposit Scheme offers super senior citizens (80+) an additional 10 basis points interest, but its rates are relatively low compared to other SBI schemes and bank FDs for some tenure FDs.
Senior citizens should invest a part of their savings in fixed deposits which offer liquidity and ensure interest income periodically.
Investment in fixed deposits offer liquidity and periodical interest income to senior citizens
Here is a list of 10 banks that offer best fixed deposit rates for senior citizens on three-year FDs