Senior citizen FD rates: Small finance banks offer up to 8.50%; check rates across banks

According to fresh market updates, Senior citizens keep get elevated interest rates on set deposits (FDs) than regular depositors, although the rates vary significantly across banks and tenures. Several small finance banks are offering senior citizens interest rates of up to 8.50 percent, while private, public sector and foreign banks are offering rates of up to 8 percent, 7.45 percent and 7.10 percent, respectively.

For senior citizens, even a small difference in FD interest rates can make a meaningful difference to overall returns, particularly when investing a large amount. Comparing rates across banks and choosing the right tenure can help maximise interest income while keeping the investment relatively low risk.

Equitas Small Finance Bank is offering set deposit interest rates of up to 8.50 percent.

ESAF Small Finance Bank is offering set deposit interest rates of up to 8.50 percent.

Suryoday Small Finance Bank is offering set deposit interest rates of up to 8.50 percent.

Jana Small Finance Bank is offering set deposit interest rates of up to 8.30 percent.

Ujjivan Small Finance Bank is offering set deposit interest rates of up to 8.30 percent.

Utkarsh Small Finance Bank is offering set deposit interest rates of up to 8.25 percent.

Shivalik Small Finance Bank is offering set deposit interest rates of up to 8.25 percent.

DCB Bank is offering set deposit interest rates of up to 8.00 percent.

Bandhan Bank is offering set deposit interest rates of up to 7.95 percent.

IndusInd Bank is offering set deposit interest rates of up to 7.75 percent.

YES Bank is offering set deposit interest rates of up to 7.75 percent.

IDFC FIRST Bank is offering set deposit interest rates of up to 7.35 percent.

Kotak Mahindra Bank is offering set deposit interest rates of up to 7.15 percent.

HDFC Bank is offering set deposit interest rates of up to 7.10 percent.

ICICI Bank is offering set deposit interest rates of up to 7.10 percent.

Bank of India is offering set deposit interest rates of up to 7.45 percent.

Bank of Baroda is offering set deposit interest rates of up to 7.25 percent.

Central Bank of India is offering set deposit interest rates of up to 7.25 percent.

Indian Bank is offering set deposit interest rates of up to 7.15 percent.

Canara Bank is offering set deposit interest rates of up to 7.10 percent.

Indian Overseas Bank is offering set deposit interest rates of up to 7.10 percent.

Punjab National Bank is offering set deposit interest rates of up to 7.10 percent.

State Bank of India is offering set deposit interest rates of up to 7.05 percent.

Union Bank of India is offering set deposit interest rates of up to 7.05 percent.

Standard Chartered Bank is offering set deposit interest rates of up to 7.10 percent.

Deutsche Bank is offering set deposit interest rates of up to 7.00 percent.

HSBC Bank is offering set deposit interest rates of up to 6.00 percent.

Experts suggest spreading deposits across multiple banks to stay within the Rs 5 lakh insurance cover, using small finance banks selectively for elevated returns, and aligning deposit tenures with liquidity needs. With deposit insurance protection and stable returns, FDs keep be a dependable investment avenue for retirees.