New Delhi:
For senior citizens seeking a secure investment option, Fixed Deposits (FDs) remain a preferred choice.
With the principal amount safeguarded and a fixed interest income, FDs offer a reliable avenue for financial growth.
Explore the attractive offers from leading banks, promising maximum returns on a three-year FD investment.
Bank Offers for Three-Year FDs:
1. Bank of Baroda: 7.75% Interest
Bank of Baroda leads among public sector banks, offering an impressive 7.75% interest on three-year FDs for senior citizens. A Rs 1 lakh investment today would grow to Rs 1.26 lakh in three years.
2. Axis Bank: 7.60% Interest
Axis Bank provides a competitive interest rate of 7.60% on three-year FDs for senior citizens. An investment of Rs 1 lakh is projected to grow to Rs 1.25 lakh in three years.
3. HDFC Bank, ICICI Bank, Punjab National Bank: 7.50% Interest
HDFC Bank, ICICI Bank, and Punjab National Bank offer a solid 7.50% interest rate on three-year FDs for senior citizens. A Rs 1 lakh investment today would yield Rs 1.25 lakh in three years.
4. Canara Bank: 7.30% Interest
Canara Bank extends a 7.30% interest rate on three-year FDs for senior citizens. An investment of Rs 1 lakh is expected to grow to Rs 1.24 lakh in three years.
5. State Bank of India (SBI): 7.25% Interest
State Bank of India (SBI) provides a competitive interest rate of 7.25% on three-year FDs for senior citizens. A Rs 1 lakh investment now would amount to Rs 1.24 lakh in three years.
6. Bank of India, Union Bank of India: 7.00% Interest
Bank of India and Union Bank of India offer a steady 7.00% interest rate on three-year FDs. An investment of Rs 1 lakh is anticipated to grow to Rs 1.23 lakh in three years.
7. Indian Bank: 6.75% Interest
Indian Bank presents a 6.75% interest rate on three-year FDs for senior citizens. A Rs 1 lakh investment is forecasted to grow to Rs 1.22 lakh in three years.
Additional Security:
The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), ensures investment protection on FDs up to Rs 5 lakh.
In essence, investments up to Rs 5 lakh in fixed deposits are entirely secure.
