Because FD is the main means of preferred investment for senior citizens. Explain that most of the largest lending banks in the country pay 50 basis points (bps) more than the interest given to general customers.

After the repo rate hike by RBI from May 2022, banks are increasing lending as well as deposit rates. Hence, FD investors are happy to see attractive returns on their deposits. With the increase in repo rates the interest rates are going upwards. Repo rate is the rate at which banks borrow money from the Reserve Bank of India (RBI).

Citing sticky core inflation, the Reserve Bank on February 8 raised the benchmark policy rate by 25 basis points to 6.5 per cent. This was the sixth time the interest rate was hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of increase to 250 basis points. Here is a list of top lending banks that are offering the highest interest rates on Fixed Deposits for senior citizens.

These 10 banks are giving good interest

Bandhan bank fd rate

600 Days (1 year, 7 months, 22 days) 8.50%

Yes bank fd rate

• 8.25% for 35 months tenure
• 8.00% on 25 months tenure

Axis bank fd rate

• 8.01% for 2 years to 30 months

IDFC First Bank FD Rate

• 18 Months & 1 Day to 3 Years (549 Days to 3 Years) 8.00%

Indusind bank fd rate

• More than 2 years 1 month to less than 2 years 6 months 8.25%
• 2 years 6 months to less than 2 years 9 months 8.25%
• 2 Years 9 Months to 3 Years 3 Months 8.25%
• For more than 3 years 3 months to less than 61 months 8.00%

Sunrise fd rate

• More than 1 year 6 months to 2 years 8.51%
• 8.01% for more than 2 years 998 days
• 8.76% for 999 days

RBL bank fd rate

• 453 to 459 days (15 months) 8.30%
• 460 to 724 days (15 months 1 day to less than 725 days) 8.30%
• 8.30% for 725 days

DCB bank fd rate

• 18 months to less than 700 days 8.00%
• 700 days 8.00%
• More than 700 days Less than 36 months 8.35%
• 36 months 8.35%
• 36 months to 60 months 8.10%
• 60 months to 120 months 8.10%

Equitas Small Finance Bank FD Rate

8.5% for 888 days

FD rates of Ujjivan Small Finance Bank

8.75% on 80 week FD

The post Senior Citizen Fixed Deposit: These 10 banks are giving good interest on FD to senior citizens, will get better returns first appeared on Rightsofemployees.com.

The bank has also revised interest rates on FDs of Rs 10 crore to Rs 25 crore, Rs 25 to Rs 50 crore and above Rs 50 crore. These new rates have come into effect from 30 January 2023. Now the bank is offering the highest interest of 7.90 per cent on bulk FDs.

This interest is being offered on FDs of 365 days to less than 15 months. Bandhan Bank is offering interest ranging from 5 percent to a maximum of 7.90 percent to customers. The bank is offering FDs ranging from 7 days to 10 years.

Now these are the new rates of Bandhan Bank

7 days to 15 days: For general public – 5 percent

16 days to 28 days: For general public – 5.80 percent

29 days to 45 days: For general public – 5.80 percent

46 days to 90 days: For general public – 5.80 percent

91 days to 180 days: For general public – 6.25 percent

181 days to 364 days: For general public – 6.75 percent

365 days: For general public – 7.90 percent

366 days : For general public – 7.90 percent

367 days to less than 15 months: For general public – 7.90 percent

15 months to less than 2 years: For general public – 6.15 percent

2 years to 3 years: For general public – 6.15 percent

3 years to 5 years: For general public – 6.15 percent

5 years to 10 years: For general public – 5.00 percent

The post Bandhan Bank FD rate: Bandhan Bank increased interest on these FDs, customers will get 7.90% interest, check latest rate first appeared on Rightsofemployees.com.

Bandhan Bank is now offering 3.00% to 7.50% interest to general public and 3.75% to 8% interest to senior citizens on FDs maturing in 7 days to 10 years. The bank is offering a maximum interest of 7.50% to general public and 8% to senior citizens on FDs of 600 days (1 year, 7 months, 22 days). These new rates are available on FDs of Rs 2 crore or less. The benefit of these new rates will be available only to new FDs or FDs that are being renewed.

Bandhan Bank FD Rates

The bank is offering 3.00% interest on FDs maturing in 7 days to 30 days. Bandhan Bank is offering an interest of 3.50% on FDs maturing in less than 31 days to 2 months. Bandhan Bank is offering 4.50% interest on FDs of 2 months to less than 1 year. The bank is now offering 7.25% interest on FDs of 1 year to 599 days. These rates are for common people. At the same time, senior citizens are being given 0.50 percent more interest.

Senior citizens are getting 8 percent interest

With the new increase of Bandhan Bank, customers are offering the highest interest of up to 7.50% to the general public on FDs of 600 days. At the same time, senior citizens will get an additional interest of 0.50% i.e. 50 bps. They ie senior citizens are getting 8% return on FDs of more than 600 days. Senior citizens will get 0.75% or 75 bps higher interest on FDs maturing in less than 1 year. The bank is offering 5.85 per cent interest on FDs of 5 to 10 years.

Bandhan Bank’s FD can be taken sitting at home

Existing Bandhan Bank customers can also enjoy the benefits of booking or investing in FDs at the convenience of their homes or offices through Retail Internet Banking or M Bandhan Mobile App. With this online process, customers can book FDs instantly from the comfort of their homes without any hassle.

The post Fixed Deposit Rate Increased: This bank is giving strong return of 8% to senior citizens, know the new interest rate first appeared on Rightsofemployees.com.