Check whether you yourself or your parents are eligible and get benefited from the best interest rates.
New Delhi: In a world where the value of your money is continuously going down, keeping in mind the staggering inflation, a senior citizen can still earn an interest rate of more than 9 percent. Yes! Here is a list of banks where a citizen above the age of 60 can earn more than or equal to at least a 9 percent interest rate. So, you can check whether you yourself or your parents are eligible and get benefited from the best interest rates.
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1. Unity Small Finance Bank
Unity Small Finance Bank offers an interest rate of 9.50 percent on senior citizen fixed deposits of varying terms.
2. Suryoday Small Finance Bank
Suryoday Small Finance Bank gives senior citizens an interest rate of 9.6 percent on fixed deposits maturing in five years.
3. North Eastern Small Finance Bank
North East Small Finance Bank gives senior citizens an interest rate of 9.25 percent on fixed deposits.
4. Fincare Small Finance Bank
Fincare Small Finance Bank provided senior citizens with an interest rate of 9.11 percent on fixed deposits.
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5. Equitas Small Finance Bank
Equitas Small Finance Bank provided senior citizens with an interest rate of 9 percent on fixed deposits.
Eligibility For Senior Citizen Fixed Deposit
Residents aged 60 and up can book FDs at advantageous interest rates. Furthermore, certain banks and NBFCs provide higher interest rates to super-older citizens aged 80 and up. For example, Indian Overseas Bank, Indian Bank, and RBL Bank provide super-elderly persons with an additional 0.75 percent interest rate on top of the usual fixed deposit rates. Furthermore, super senior FD depositors receive an additional 0.80 percent p.a. interest rate from Punjab National Bank, the report said.
Documents Required To Open A Senior Citizen FD Account
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If a depositor desires to open an FD at the same bank where he or she already has a savings or current account, he or she can log on to net banking or mobile banking and open an account straight away, or simply visit the branch with the necessary
