Banks Offering Fixed Deposit Interest Rates Of 9% Or Above For Senior Citizens

Bank FDs have evolved as one of the most secure investment options. Some banks currently offer fixed deposit interest rates of 9% or greater. Here are some banks that are currently offering over 9% FD interest rates to older citizens.

Unity Small Finance Bank:

Unity Small Finance Bank (SFB) offers fixed deposit interest rates of up to 9% for general people and 9.50% for senior citizens. For older adults with a tenure of 1001 days, the bank gives the highest interest rate of 9.50 percent. In addition, the bank gives 9.25 percent interest on terms of 181-201 days and 501 days to older citizens. Early withdrawals from fixed and recurring deposits are subject to a penalty of 1% of the rate in effect during the period the deposit was held, or the negotiated rate, whichever is lower.

Fincare Small Finance Bank:

Fixed deposit rates at Fincare Small Finance Bank can reach 9.11 percent. On a 1000-day tenure, the bank offers FD interest rates ranging from 3 percent to 8.51 percent to the general public and 3.60 percent to 9.11 percent to senior citizens.

Jana Small Finance Bank

Jana SFB provides elderly citizens an interest rate ranging from 4.25% to 9%, with the highest rate of 9% available on tenures ranging from 366 to 499 days, 501 days to 2 years, and 500 days.

Suryoday Small Finance Bank

Fixed deposit rates at Suryoday Small Finance Bank can reach 9.60 percent. The bank provides senior citizens FD interest rates ranging from 4.50% to 9.60% for a 5-year term. The bank charges 9% on tenures of 999 days and 8.75% on tenures of one year to two years.

According to the website, "In case of premature withdrawal for closure or renewal or partial withdrawal of term deposits, interest shall be paid for the period the deposit remained with the bank at a rate of interest prevailing on the date of booking of the deposit for such tenor, less the applicable penalty of 1%."