Bank FD, Fixed Deposit: Whenever it comes to investing money, then fixed deposit (FD) comes to the mind of most people. Considering as one of the safest tools to save money and earn interests at regular intervals makes it a lucrative options among the masses. Different banks offer different FD rates to customers depending on maturity, age and other special offers.
Senior citizens can currently get interest up to 8.75 percent on one year FD in some Small Savings Banks.
Other financial investment avenues such as equities are risky and sometimes hard to understand for commoners. Market usually tends to fluctuate a lot and causes a loss as well. In that scenario, FDs in banks is the safest bet if one tends to keep its hard-earned safe without the fear of being depreciated due to inflation.
This interest is given to depositors on deposits of less than Rs 3 crore. We are going to give you information about Small Savings Bank which gives interest rate up to 8.75 percent on one year FD. Small Savings Banks in India serves banking and other finance services to underserved and unbanked populations such as rural areas.
Jana Small Finance Bank
This bank is offering 8.75 percent interest rate to senior citizens on fixed deposit FD maturing in one year.
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank is also offering 8.75 percent interest rate to senior citizens on FD maturing in one year.
Equitas Small Finance Bank
This small finance bank is offering 8.6 percent interest on its FD maturing in one year.
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Utkarsh Small Finance Bank
Utkarsh Small Finance Bank is also offering 8.6 percent interest rate to senior citizens on its FD maturing in 1 year.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering 8.55 per cent interest rate on its FDs maturing in one year for senior citizens.
Unity Small Finance Bank
Unity Small Finance Bank is offering 8.35 percent interest rate on its FD maturing in one year.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
