Reserve Bank of India (RBI) After cutting the repo rate for three consecutive times, banks have reduced interest on fixed deposits (FD) on the other hand. Senior citizens have suffered the most loss of interest on FD. However, it is not that the option of getting more returns on FD is over. Many banks are still paying interest to senior citizens up to 8.8% on FDs. Let’s know about those banks.
1. Sunrise Small Finance
Sunrise is offering 8.8% interest rate on its three -year period FD for Small Finance Senior Citizen.
2. Utkarsh Small Finance Bank
Utkarsh Small Finance Bank is offering an 8.75% interest rate on FDs of a period of three years for senior citizens.
3. Unity Small Finance Bank
Unity Small Finance Bank is offering an interest rate of up to 8.5% on FDs of 3 years period to senior citizens.
4. Slice Small Finance
Slice small finance, bank is offering 8.25% interest rate on FD for a period of three years.
5. Jana Small Finance Bank
Jana Small Finance Bank is offering 8.25% interest rate on FD for a period of three years to senior citizens.
Take care of these things before investment
Prior to the FD in Small Finance Bank (SFB), first of all, check the bank’s reliability and financial status, as well as opt for FD insured by DICGC (Deposit Insurance and Credit Guarantee Corporation). Insurance, deposit insurance and loan are done under the corporation corporation. It provides uniform insurance coverage of up to Rs 5 lakh to every depotator in every bank. This insurance guarantees safety nets for small depositors. Despite this, an investor must evaluate specific parameters to ensure the financial health of the bank before investing. In addition, get information about FD duration, interest rate, and premature withdrawal (premature withdrawal) penalty (penalty).
Latest business news
