Major players like SBI, ICICI Bank, and HDFC Bank are at the forefront, offering a noteworthy 50 basis points higher interest to seniors compared to regular customers.
1. Equitas Small Finance Bank
Leading the Way in an enticing move, Equitas Small Finance Bank has unveiled an attractive 9% interest rate on its 444-day Fixed Deposit for senior citizens.
This favorable offering, effective from August 21, 2023, presents a golden opportunity for investors to reap the benefits of these alluring interest rates.
2. ESAF Small Finance Bank
A Competitive Edge ESAF Small Finance Bank is not far behind, extending a competitive 9% interest on Fixed Deposits spanning 2 to 3 years. Starting from April 14, 2023, these rates have captivated the attention of senior citizens seeking secure investment avenues.
3. Fincare Small Finance Bank
Fincare Small Finance Bank has tailored its FD interest rates to suit varying maturities. With rates ranging from 9% to 9.43% on FDs maturing in 500, 750, and 1000 days, the bank ensures flexibility and gains for its senior citizen investors.
Additionally, an attractive 9.15% interest accompanies FDs maturing in the 36-month-1-day to 42-month range, applicable from July 26, 2023.
4. Jana Small Finance Bank
Promising rewarding returns, Jana Small Finance Bank presents an enticing 9% interest rate on FDs maturing in 1095 days. As of August 15, 2023, these rates position the bank as a compelling choice for senior citizens looking to maximize their investments.
5. North East Small Finance Bank
North East Small Finance Bank introduces a special scheme, offering an assured 9.25% interest rate on FDs maturing in 555 and 1111 days.
This limited-time opportunity, launched on June 6, 2023, presents a chance for senior citizens to secure attractive returns.
6. Suryoday Small Finance Bank
Diversifying the options, Suryoday Small Finance Bank presents a spectrum of interest rates. With rates starting at 9% for FDs maturing from 15 months to 2 years, escalating to 9.10% for deposits spanning 2 to 3 years, the bank caters to various investment horizons. These rates come into effect from August 7, 2023.
7. Unity Small Finance Bank
Unity Small Finance Bank takes the lead with its exclusive FD interest rates. Boasting 9.25% interest on FDs maturing from 6 months to 201 days, 9.25% on 501 days FDs, and an impressive 9.50% on 1001 days FDs, the bank’s offerings are effective from August 11, 2023.
In a competitive financial landscape, these nine banks have carved a niche by offering senior citizens exceptional interest rates on Fixed Deposits.
With a commitment to catering to the unique needs of this demographic, these banks continue to provide secure and promising avenues for investment.