For senior citizens, fixed deposits (FDs) remain one of the safest investment options.
Unlike the stock market or mutual funds, FDs provide guaranteed returns and are low-risk.
This makes them ideal for retirees who want regular income without taking any financial risk.
Interestingly, some small finance banks are offering attractive interest rates of up to 8% on 3-year FDs, making them a lucrative option for senior citizens looking for higher returns.
Small Finance Banks Offering High Interest on FDs
Here are some small finance banks that offer the best interest rates for senior citizens:
Jana Small Finance Bank – Offers 8% interest on 3-year FDs for senior citizens, applicable on deposits up to ₹3 crore.
bank also provides deposit insurance, adding extra security.
Utkarsh Small Finance Bank – Also offers 8% interest on 3-year FDs, with a maximum limit of ₹3 crore.
A good option for those open to exploring newer banks for higher returns.
Ujjivan Small Finance Bank – Offers 7.7% interest on 3-year FDs.
The process is simple, and the bank focuses on retail customers, making it ideal for balanced and safe returns.
AU Small Finance Bank – Offers 7.6% interest on 3-year FDs.
Known for its strong branch network and digital services, this bank is suitable for those who prioritize stability and convenience.
Slice Small Finance Bank – Offers 7.5% interest on 3-year FDs.
A good choice for investors seeking steady returns in a rapidly growing bank.
Equitas Small Finance Bank – Offers 7.5% interest on 3-year FDs.
Known for timely interest payments and a strong customer base, it’s a reliable option for safe investments.
Shivalik Small Finance Bank – Offers 7.5% interest on 3-year FDs.
Suitable for those looking for better returns, though it’s important to check branch availability before investing.
Why Consider Small Finance Bank FDs?
With interest rates of up to 8%, small finance bank FDs provide senior citizens a rare opportunity for safe and profitable investment.
Before investing, it’s important to check the bank’s credibility, FD terms, and tax implications to make sure the investment meets your financial goals.
For senior citizens looking for stability and good returns over a 3-year period, small finance bank FDs remain an attractive choice.