Best Banks for Fixed Deposits: Top Choices with Higher Rates for Seniors

Top Banks Offering High Interest Rates on Senior Citizens’ Fixed Deposits:

Several banks provide attractive interest rates on fixed deposits for senior citizens, often reaching around 8.1 percent. Deposits below 2 crores for a three-year term are eligible for these interest rates. Here are details about 14 public and private sector banks offering the highest interest rates:

1. DCB Bank:

• Interest Rate: 8.1 percent
• Tenure: 26 months to 37 months

1. RBL Bank:

• Interest Rate: 8 percent
• Tenure: 24 months to 36 months

1. S Bank:

• Interest Rate: 8 percent
• Tenure: 36 months to 60 months

1. Bandhan Bank:

• Interest Rate: 7.75 percent
• Tenure: Three to five years

1. Bank of Baroda:

• Interest Rate: 7.75 percent
• Tenure: More than two years and less than three years

1. IDFC Bank:

• Interest Rate: 7.75 percent
• Tenure: Two years to three years

1. IndusInd Bank:

• Interest Rate: 7.75 percent
• Tenure: Two years nine months to three years

1. Axis Bank:

• Interest Rate: 7.6 percent
• Tenure: Less than three years

1. Kotak Mahindra Bank:

• Interest Rate: 7.6 percent
• Tenure: Three years

1. Punjab National Bank:
   • Interest Rate: 7.5 percent
   • Tenure: Three years
2. HDFC Bank:
   • Interest Rate: 7.5 percent
   • Tenure: Two years eleven months one day to three years
3. ICICI Bank:
   • Interest Rate: 7.5 percent
   • Tenure: Two to three years
4. Karur Vysya Bank:
   • Interest Rate: 7.4 percent
   • Tenure: Three years and above two years
5. Canara Bank:
   • Interest Rate: 7.3 percent
   • Tenure: Three years to five years

These banks provide senior citizens with a range of options for fixed deposits with competitive interest rates, offering a secure and beneficial investment for those looking to manage their funds wisely.