Fixed deposits (FD) are often preferred investment options for senior citizens because they provide a higher interest rate and tax benefits. All the top lenders including the State Bank of India (SBI), ICICI Bank, HDFC Bank, and others give 50 basis points of interest to senior citizens over and above the general customers. Like, top lenders, Small Finance Banks (SFBs) also offer higher interest rates on FDs to senior citizens.
On World Senior Citizens Day today (August 21), let’s take a look at lucrative FD interest rate offered by small finance banks like Jana, Fincare, Equitas, North East, ESAF, Suryoday, and Unity to senior citizens:
Equitas Small Finance Bank offers 9% interest on FD for Senior Citizens for 444 days. These rates are effective from 21 August 2023.
444 days- 9%
2)ESAF Small Finance Bank FD rates for senior citizens
On 2 years to less than 3 years, ESAF Small Finance Bank gives a 9% rate. As per the bank’s website, these rates are effective from 14 April 2023.
2 years to less than 3 years- 9%
3)Fincare Small Finance Bank FD rates for senior citizens
Fincare Small Finance Bank offers 9, 9.43, 9.21 interest rates on deposits maturing in 500, 750, and 1000 days respectively. On term deposits maturing in 36 months 1 day-42 month, the bank guarantees a 9.15% interest rate for the elderly. These rates are effective from 26 July 2023.
500 days- 9%
750 days- 9.43%
1000 days- 9.21%
36 months 1 day-42 months- 9.15%
4)Jana Small Finance Bank FD rates for senior citizens
Jana Small Finance Bank offers a lucrative rate of 9% on deposits maturing in 1095 Days. These rates are effective from 15 August 2023.
> 2 Years – 3 Years(1095 Days) 9%
5)North East Small Finance Bank FD rates for senior citizens
North East Small Finance Bank guarantees a 9.25% interest rate on FDs maturing in 555, and 1111 days. According to the bank’s website, these rates are effective from 6 June 2023.
555 days- Special Scheme 9.25%
1111 Days- Special Scheme 9.25%
Suryoday Small Finance Bank offers 9% and above on deposits maturing in 2 and 3 years. These rates are effective from 7 August 2023
Above 15 months to 2 years 9%
Above 2 years to 3 years 9.10%
7)Unity Small Finance Bank FD rates for senior citizens
Unity Small Finance Bank offers 9.25, and 9.50% interest rates on selected tenors. These rates are effective from 11 August 2023.
6 Months – 201 Days 9.25%
501 Days 9.25%
1001 Days 9.50%
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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Updated: 21 Aug 2023, 09:14 AM IST
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