The stock market has been registering a continuous decline for the last one and a half months! At the same time, this type of decline has been seen for the third time in the year 2024! Earlier such a situation was seen in March 2024! In such a situation, the tension of investors has increased! Sensing unsafe investments and huge losses! Many investors are now keeping distance from the stock market!
And are looking for a safe investment! In such a situation, fixed deposit can prove to be a good safe investment option for them! Especially for investors like senior citizens! So let us tell you all which bank is giving higher interest rates to senior citizens!
Fixed Deposit Interest Rate – Good returns with safe investment
Fixed deposit can be a good investment for senior citizens because the money invested in it is completely safe and pre-determined interest is also available. Many banks are offering 0.50%-0.75% more returns than their normal interest rate on an annual basis to attract senior citizen investors. In such a situation, investors above 60 years of age can earn good returns with safe investment.
Senior Citizens Fixed Deposit Interest Rates – You can easily get loan on FD
At the same time, senior citizens are also eligible for loans against fixed deposits in case of cash requirement! An investor can easily take a loan of up to 70-80 percent of the principal amount of the fixed deposit in case of any need!
While installment facility is also available for payment of the loan amount! That is, you can easily repay the loan amount taken on FD through installments! During this time, your FD remains safe till the full payment of the loan is not made by you!
Senior Citizens FD Interest Rates – These banks are offering interest rates up to 9%
Northeast Small Finance Bank is offering the highest interest rate of 9.50% for senior citizens on FDs maturing in 546 to 1111 days! However, the investment amount should be less than Rs 5 crore! These interest rates are effective from June 25, 2024!
Sarvodaya Small Finance Bank is offering the highest return of 9.10% for senior citizens on FDs maturing between 2 years and 3 years! These interest rates have become effective from 4 September 2024!
Unity Small Finance Bank is offering the highest returns for senior citizens at 9.50% for a tenure of 1001 days and 9.25% for a tenure of 701 days! These interest rates are effective from 7 October 2024!
Utkarsh Small Finance Bank is offering the highest interest rate of 9.10% for a tenure of 1001 days and 9.25% for a tenure of 1500 days for senior citizens! These fixed deposit interest rates are applicable from 7 June 2024!
