Latest Bank Fixed Deposit Interest rate for Senior Citizens: Banks have been raising Fixed Deposit rates for senior citizens and other depositors in the last few months. This week, DBS Bank and Union Bank of India raised FD rates.
The Union Bank of India has increased FD rates with effect from November 25. The public sector bank is now offering up to 7.3% interest to regular depositors for FDs of 800 days and 3 years respectively. Senior Citizens can get 7.8% interest for these tenors as the bank provides 0.5% extra interest to them.
Read More: How to check your CIBIL score Online and 8 ways to improve it?
DBS Bank has raised the FD rate for senior citizens on deposits of 600 days by 0.75%. DBS bank is now offering 7.75% interest to senior citizens on deposits of 600 days. On FDs of 3 to 4 years, 4 to 5 years and 5 years & above, the DBS bank is offering 7% interest to senior citizens. These rates on DBS bank FDs are effective from November 18, 2022.
Meanwhile, Ujjivan Small Finance Bank is offering up to 8.75% interest on FD to senior citizens while Unity Small Finance Bank is offering up to 9% interest to senior citizens. That said, the following are the FD interest rates for senior citizens recently revised by the following banks:
RBL Bank
RBL Bank is offering 7.75% interest to senior citizens on deposits of 725 days.
Bank of India
Bank of India is offering 7.75% interest to senior citizens on deposits of 777 days with effect from November 1, 2022.
Federal Bank
Federal Bank is offering 7% interest to senior citizens on deposits of 750 days with effect from October 10, 2022.
Read More: IDFC First Bank Increases Interest Rates To 7.55% On Bulk Fixed Deposits, Details Here
SBM Bank
SBM Bank is offering 7.1% interest to senior citizens on deposits of 3 years to 10 years on callable deposits and 7.5% interest on these tenors for non-callable deposits. (rates with effect from November 15, 2022)
Yes Bank
Yes Bank is offering 7.5% interest to senior citizens on deposits of 36 months to 10 years. The bank offers 7.25% interest on deposits of 1.5 years to 3 years.(rates effective since November 3, 2022).
IDFC First Bank
IDFC First Bank is offering 7.75% interest to senior citizens on term deposits of 750 days. The bank offers 7.25%% interest on deposits of 501 days to 749 days. (rates effective since October 10, 2022).
North East Small Finance Bank
North East Small Finance Bank is offering 7.5% interest to senior citizens on term deposits of 366 days to 1095 days. The bank offers 7.75% interest on deposits of 1096 to 1110 days ( rates effective since April 1, 2022).
