Senior citizens FD rate: Which bank is offering how much in August? 8.05% maximum

Fixed deposits are an instrument that offers predictability in returns in an increasingly volatile financial market. Some banks are offering up to 8.05% interest on 5-year FDs for senior citizens. Find out how much interest is being offered by each bank and when TDS is deducted on FD interest.

Kolkata: For most senior citizens fixed deposits in banks are of immense significance. For they offer predictability in interest earnings. The money is far more secure than equity and mutual fund investments. Some banks are currently offering senior citizens up to 8.05% interest on 5-year FDs. These interest rates apply to deposits up to Rs 3 crore. Interest rates for senior citizens, i.e., those aged 60 or older, vary from bank to bank. Some small finance banks are offering interest rates exceeding 8% on 5-year FDs.

Up to 8.05% interest on 5-year FD

Suryoday Small Finance Bank offers 8.05% interest on 5-year FDs for senior citizens. Jana Small Finance Bank also offers 8% interest on 5-year FDs for........

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