This bank offers up to 9.5% returns on bank fixed deposits (FD) to senior citizens | Top Vip News

Senior Fixed Deposits (FDs) are term deposit plans with special interest rates offered to people above 60 years of age. The interest rate on FDs for senior citizens in India varies from bank to bank. Apart from the additional interest rate, which can be 0.50% more than that offered to the general public, these fixed deposit accounts also offer a wide range of other benefits to senior citizens. Some banks changed their fixed deposit rates in the week ending February 3, 2024.

Let’s take a look at the FD rates offered by these banks to senior citizens.

Unity Small Finance Bank FD Rates for Senior Citizens

Small finance banks generally offer higher rates than larger banks. At Unity Small Finance Bank, senior citizens can earn up to 9.50 per cent on 1,001 day FDs. The bank revised the rates on February 2, 2024. It provides 9.25 per cent to senior citizens for more than six months for 201-day FDs. For 501-day FDs, the bank offers senior citizens 9.25 per cent. For 701 days, Unity Bank offers seniors 9.45 percent.

Punjab and Sind Bank FD Rates for Senior Citizens

The bank revised the rates on February 1. For 444-day FDs, Punjab & Sind Bank offers 8.10 per cent. These special FDs are valid until March 31, 2024. These rates were revised on February 2, 2024.

Karur Vysya Bank (KVB) FD Rates for Senior Citizens

Starting February 1, 2024, Karur Vysya Bank (KVB) is offering senior citizens the highest 8.00 percent on its 444-day FD.

Senior citizens can earn a maximum of 7.75 per cent on 400-day FDs. The bank revised the rates on February 1, 2024. The PNB increased the rate for 300-day deposits by 80 basis points for senior citizens, general and senior citizens. These deposits will guarantee a return of 7.55 percent for senior citizens and 7.85 percent for senior citizens.