High FD interest rates for senior citizens: Get up to 8.1% on 3-year fixed deposits; check banks list here

High FD interest rates for senior citizens: Get up to 8.1% on 3-year fixed deposits; check banks list here

Fixed Deposit rates for senior citizens: Senior citizens seeking lucrative investment options can benefit from attractive fixed deposit (FD) interest rates offered by both public and private sector banks. They can earn up to 8.1% interest on three-year FDs, with this rate applicable for deposits up to Rs 2 crore. Senior citizens looking to invest should take advantage of the current high-interest rates in the market.

As per an ET report, here are the highest FD interest rates for senior citizens over three years offered by different banks:

1. DCB BankOffers 8.1% interest rate on FDs maturing between 26 months and less than 37 months for senior citizens.

2. RBL BankProvides 8% interest rate on FDs maturing between 24 months one day and 36 months for senior citizens.

3. YES BankOffers an 8% interest rate on FDs maturing between 36 months and less than 60 months for senior citizens.

4. Bandhan BankProvides an interest rate of 7.75% on FDs maturing between three years and less than five years for senior citizens.

5. Bank of BarodaOffers an interest rate of 7.75% on FDs maturing between more than two years and up to three years for senior citizens.

6. IDFC BankProvides an interest rate of 7.75% on FDs maturing between two years one day and three years for senior citizens.

7. IndusInd BankOffers an interest rate of 7.75% on FDs maturing between two years 9 months and three years three months for senior citizens.

Source: From Paisabazaar.com as of April 7, 2024, cited by ET

8. Axis BankProvides an interest rate of 7.6% on FDs maturing between three years and less than five years for senior citizens.

9. Kotak Mahindra BankOffers an interest rate of 7.6% on FDs maturing in three years for senior citizens.

10. Punjab National BankProvides an interest rate of 7.5% on FDs maturing between more than two years and up to three years for senior citizens.

11. HDFC BankOffers an interest rate of 7.5% on FDs maturing between two years 11 months one day and three years for senior citizens.

12. ICICI BankProvides an interest rate of 7.5% on FDs maturing between more than two years and three years for senior citizens.

It’s important to note that the interest earned on three-year FDs is taxable for all taxpayers. Additionally, banks will deduct tax at source (TDS) if the interest exceeds a certain threshold.

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