Top 5 Senior Citizen Bank FDs: DCB Bank offers 8 percent interest on five-year FDs to senior citizens. By depositing Rs 10,000 in this, you will get a return of Rs 14,859 after five years.
Senior Citizen Bank FDs: Many banks run many schemes for senior citizens of the country. One of these schemes is also for fixed deposit i.e. fixed deposit. Under this, a lump sum amount is deposited for a fixed period of time and the eligible investor gets handsome returns on completion of maturity along with high interest.
Meanwhile, here we are telling about five such banks which are offering bumper interest rates to senior citizens on FD deposits for a period of five years. Along with this, we will also see that if a senior citizen deposits Rs 10,000 together in the FD of these banks, then how much will it become after five years.
Interest rates ranging from 7.2% to 7.4%
First, we’re talking about three banks that offer senior citizens FDs of 7.2%, 7.3%, and 7.4%, respectively, over five years. RBL Bank offers a 7.2% return on a five-year FD for senior citizens. An investment of ₹10,000 in this scheme would yield ₹14,287 over five years at an interest rate of 7.2%.
Axis Bank offers 7.3% interest on its FD for senior citizens over five years. Thus, an investment of ₹10,000 would yield ₹14,323 after five years at an interest rate of 7.3%. J&K Bank offers 7.4% interest on its FD for senior citizens over five years. If someone invests Rs 10,000 in this FD, he will get a return of Rs 14,393 at this interest rate after five years.
Yash Bank’s 7.5% Return
Yash Bank offers senior citizens a 7.5% interest rate under its FD scheme. A lump sum deposit of ₹10,000 in this FD scheme will yield a return of ₹14,499 after five years at an interest rate of 7.5%.
This bank offers an 8% return
Now, let’s discuss the 8% interest rate offered over five years on its FD scheme. DCB Bank offers senior citizens an 8% interest rate on a five-year FD. A deposit of ₹10,000 in this scheme will yield a return of ₹14,859 after five years at an interest rate of 8%.
Disclaimer: The suggestions given in this analysis are those of individual analysts or brokerage companies, not NBT. We advise investors to consult certified experts before making any investment decisions, as stock market conditions can change rapidly.
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