Reserve Bank of India (RBI) After three consecutive reductions in the repo rate, banks have made a major reduction in interest on FD. Due to this, the return on FD has reduced considerably. Its biggest disadvantage has occurred to senior citizens i.e. senior citizens because they are very dependent on FD. However, it is not that the option is over. Many banks are still paying better interest on FDs. We are telling you about the same bank, who are paying up to 8.50% interest on 3 years FD.
Chance in small finance banks
Utkarsh Small Finance Bank is providing an interest rate of 8.50 percent to senior citizens on 3 years FD. If a senior citizen does FD in this bank for three years, then it will increase by 1 lakh to 1.26 lakh rupees. Jana Small Finance Bank offers an interest rate of 8.25 percent on FD with a duration of three years. If a senior citizen invests Rs 1 lakh, then this amount will increase to Rs 1.25 lakh on maturity.
Yes Bank is also giving better interest
Sunrise Small Finance Bank offers an interest rate of 8.15 percent on three years FD. The deposit of Rs 1 lakh will be Rs 1.24 lakh on maturity. Yes Bank provides an interest rate of 7.85 percent on a three -year FD for senior citizens. An investment of Rs 1 lakh will be Rs 1.24 lakh on maturity. Bandhan Bank, Equitas Small Finance Bank and Unity Small Finance Banks provide an interest rate of 7.75 percent on three years FD for senior citizens. This means that investment of Rs 1 lakh will be Rs 1.23 lakh on maturity. Ujjivan Small Finance Bank and RBL Bank offer an interest rate of 7.70 percent. An investment of Rs 1 lakh will be Rs 1.23 lakh on maturity.
Opportunity to invest in these banks too
IndusInd Bank provides 7.50 percent interest rate on 3 years FD. If you invest 1 lakh rupees, then this amount will be Rs 1.23 lakh on maturity. DCB Bank, IDFC First Bank and Jammu and Kashmir Banks provide 7.25 percent interest rates. This means that investment of Rs 1 lakh will be Rs 1.22 lakh on maturity.
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