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Senior Citizen Fixed Deposit Interest Rate is Rising: Check Latest Bank FD Rate Hike Details

Latest Bank Fixed Deposit Interest rate for Senior Citizens: Banks have been raising Fixed Deposit rates for senior citizens and other depositors in the last few months

Senior Citizen Fixed Deposit Interest Rate is Rising: Check Latest Bank FD Rate Hike Details
Senior Citizen Fixed Deposit rates are rising. Representational image

Latest Bank Fixed Deposit Interest rate for Senior Citizens: Banks have been raising Fixed Deposit rates for senior citizens and other depositors in the last few months. This week, DBS Bank and Union Bank of India raised FD rates.

The Union Bank of India has increased FD rates with effect from November 25. The public sector bank is now offering up to 7.3% interest to regular depositors for FDs of 800 days and 3 years respectively. Senior Citizens can get 7.8% interest for these tenors as the bank provides 0.5% extra interest to them.

DBS Bank has raised the FD rate for senior citizens on deposits of 600 days by 0.75%. DBS bank is now offering 7.75% interest to senior citizens on deposits of 600 days. On FDs of 3 to 4 years, 4 to 5 years and 5 years & above, the DBS bank is offering 7% interest to senior citizens. These rates on DBS bank FDs are effective from November 18, 2022.

Meanwhile, Ujjivan Small Finance Bank is offering up to 8.75% interest on FD to senior citizens while Unity Small Finance Bank is offering up to 9% interest to senior citizens. That said, the following are the FD interest rates for senior citizens recently revised by the following banks:

RBL Bank

RBL Bank is offering 7.75% interest to senior citizens on deposits of 725 days.

Bank of India

Bank of India is offering 7.75% interest to senior citizens on deposits of 777 days with effect from November 1, 2022.

Also Read: Best Senior Citizen schemes for guaranteed monthly pension on Rs 15 lakh deposit

Federal Bank

Federal Bank is offering 7% interest to senior citizens on deposits of 750 days with effect from October 10, 2022.

SBM Bank

SBM Bank is offering 7.1% interest to senior citizens on deposits of 3 years to 10 years on callable deposits and 7.5% interest on these tenors for non-callable deposits. (rates with effect from November 15, 2022)

Yes Bank

Yes Bank is offering 7.5% interest to senior citizens on deposits of 36 months to 10 years. The bank offers 7.25% interest on deposits of 1.5 years to 3 years.(rates effective since November 3, 2022).

Also Read: Senior Citizen Fixed Deposit interest rate jumps to 9%: Know how much return is guaranteed

IDFC First Bank

IDFC First Bank is offering 7.75% interest to senior citizens on term deposits of 750 days. The bank offers 7.25%% interest on deposits of 501 days to 749 days. (rates effective since October 10, 2022).

North East Small Finance Bank

North East Small Finance Bank is offering 7.5% interest to senior citizens on term deposits of 366 days to 1095 days. The bank offers 7.75% interest on deposits of 1096 to 1110 days ( rates effective since April 1, 2022).

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First published on: 26-11-2022 at 10:18:28 am