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More than 8% Annual Returns on Fixed Deposits for Senior Citizens

Do you wish to get an annual return of 8% on your investment of Fixed Deposit? If yes, then keep reading this article to find out how you can do it.

There are multiple banks that offer an annual return of 8% on fixed deposits for senior citizens. Check this article to get the list of the same. Also, there are some banks that like to go above that too, so ensure that you find the right bank for yourself.

1. SSFB: Up to 8.26% interest

SSFB, expanded as Suryoday Small Finance Bank, increased their interest rates which are in effect from 2 November, 2022 by 25 to 52 basis points (bps). In addition to this, the bank is also accepting a deposit of Rs. 2 Crore which can mature in 7 days to 10 years.

  • Interest Rate for General Public: 4.00% to 8.01% per annum
  • Interest Rate for Senior Citizens: 4.50% to 8.26% per annum

2. Unity SFB: Up to 8.3% interest

Unity SFB, expanded as Unity Small Finance Bank, is offering an interest rate of 8.3% on Fixed Deposits for Senior Citizens which is applicable for deposits of 366 days.

  • Interest Rate for General Public: 7.80% per annum
  • Interest Rate for Senior Citizens: 8.30% per annum

Valid Up to: 30th November 2022.

3. AU Bank: Up to 8% interest

AU Bank, also known as AU Small Finance Bank has recently increased their fixed deposit interest rates to help you get the maximum returns possible on your investment by 60 basis points. It has pushed the interest rate up to:

  • Interest Rate for General Public: 6.9% to 7.5% per annum
  • Interest Rate for Senior Citizens: 7.4% to 8% per annum

4. STFC Company FD: Up to 8.9% interest

Shriram Transport Finance Company Limited is offering a great deal of interest rates to its customers. Sadly, deposit insurance guarantee is not available for Rs 5 lakh deposit but you can still enjoy the interest rates mentioned below:

  • Interest Rate for General Public: 6.9% to 7.5% per annum
  • Interest Rate for Female Senior Citizens:  Up to 8.9%
  • Interest Rate for Male Senior Citizens:  Up to 8.8%

Also Read:

Fixed Deposit or Mutual Funds? India’s No. 1 Investment Choice

Komalpreet

Words help me express the unsaid and we have come a long way while walking hand in hand like that so now I write about anything and everything that ignites the spark of inspiration in me.

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