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MC Personal Finance | Private Banks That Offer Interest Rates Of Up To 8.10% On 3-Year Deposits

Senior citizens, post-retirement, prioritise capital protection and regular income flows. So, they often invest in fixed deposits (FDs) for their apparent stability and steady income through interest payments. The interest earned on fixed deposits is taxable, but several senior citizens fall in the lower tax brackets, which ensures that their tax liability is minimal or nil, if other income is negligible. Private banks offer interest rates of up to 8.10 percent to senior citizens on three-year FDs. Here are the top twelve banks offering lucrative interest rates on FDs with tenures of three years. Paisabazaar has compiled the data.

first published: Jun 26, 2024 09:21 pm