Senior Citizens Can Earn Up to 9% Interest on Fixed Deposits – Check Out These Banks Offering the Best Rates

Fixed deposits (FDs) remain a preferred investment choice for senior citizens, offering both security and attractive returns. Several small finance banks in India are currently providing higher interest rates on FDs, with some offering up to 9% or more. These competitive rates help senior citizens maximize their savings while ensuring financial stability.

Banks Offering the Highest FD Interest Rates for Senior Citizens

Here are some small finance banks offering the most competitive interest rates on fixed deposits:

1. Northeast Small Finance Bank

   • Provides a 9.00% interest rate on FDs with a tenure of 1 to 3 years, making it a highly attractive short-term investment option.

2. Suryoday Small Finance Bank

   • Offers a 9.10% interest rate on 5-year FDs, making it a great choice for those seeking long-term financial growth.

3. Unity Small Finance Bank

   • Provides a 9.50% interest rate on FDs with a tenure of 1001 days.
   • Offers 8.65% interest on 3-year deposits, ensuring higher returns compared to traditional banks.

4. Jana Small Finance Bank

   • Gives 8.75% interest on FDs with tenures ranging from 1 to 3 years, making it an excellent option for short- and medium-term investments.

5. Equitas Small Finance Bank

   • Provides 8.60% interest on 1-year FDs and 8.50% on 3-year deposits, offering a safe and rewarding investment avenue.

6. Ujjivan Small Finance Bank

   • Offers an 8.60% interest rate on 18-month FDs, making it a viable choice for medium-term investors.

Why Small Finance Banks Are a Smart Choice for Senior Citizens

Small finance banks such as Northeast (9.00%), Suryoday (9.10%), and Unity (9.50%) are offering significantly higher FD rates compared to larger commercial banks. Senior citizens looking for secure investments with attractive returns can consider these banks for their fixed deposit needs.

By investing in these high-interest FDs, senior citizens can enjoy better financial security while maximizing their savings.