Top Banks Offering Over 8.5% Interest on Fixed Deposits for Senior Citizens.

When it comes to saving money, many people in India think of Fixed Deposits (FD). This is mainly because FDs are considered low-risk, similar to the stock market, but with guaranteed returns. For senior citizens, FDs are even more attractive due to higher interest rates offered by banks specifically for them.

Top Banks Offering High Interest Rates for Senior Citizens

Here are some banks that provide interest rates above 8.50% for senior citizens:

Details of Interest Rates

1. **Suryoday Small Finance Bank**: Offers a high interest rate of 9.60% for a duration of 5 years.

2. **Jana Small Finance Bank**: Provides 9% interest for a fixed deposit period of 1095 days.

3. **AU Small Finance Bank**: Gives an interest rate of 8.50% for deposits between 24 to 36 months.

4. **Ujjivan Small Finance Bank**: Offers 8.85% interest for a duration of 12 months or 560 days.

5. **Unity Small Finance Bank**: Provides a competitive rate of 9.50% for a term of 1001 days.

Investing in fixed deposits can be a smart choice for senior citizens looking for safe and reliable returns on their savings. It’s always wise to compare options and choose the best rate available.