Senior citizens are getting better returns in Fixed Deposit, which bank is the best?

Fixed Deposit: If you are also thinking about investing, but you need to avoid risk, then fixed deposit (FD) may be a great option. Fixed Deposit is an investment that always gives stable returns, and the risk on it is also low. But recently big banks like SBI, ICICI Bank, HDFC Bank and Canara Bank have cut their FD rates. So now, it has become more important to choose the right bank and the right duration while investing in FD. Let’s know about the recent interest rates of these banks.

ICICI Bank FD interest rates

In ICICI Bank, ordinary people get interest from 3% to 6.85%. At the same time, this rate for senior citizens can range from 3.5% to 7.35%. The highest interest in ICICI Bank is available on FD from 18 months to 2 years. If you want to invest for a long period, this can be a good option.

FD interest rates of SBI (State Bank of India)

If you want to make a fixed deposit in SBI, then normal customers can get interest from 3.30% to 7.05%. But if you are senior citizens, then you will get a little more interest i.e. from 3.5% to 7.35%. If you are 80 years or older (Super Senior Citizen), then you will get interest of up to 7.45%. Fixed Deposit of 444 days is getting the highest interest.

HDFC Bank’s FD Interest Rates

HDFC Bank’s Fixed Deposit interest rates are also somewhat similar to ICICI Bank. Normal customers can get interest from 3% to 6.85% and senior citizens from 3.5% to 7.35%. The highest interest is available on FD from 15 months to 21 months. You can also get a lot of good interest in HDFC, especially if you are investing for medium-term.

Canara Bank’s Fixed Deposit Interest Rates

Common customers get interest from 4% to 7% in Canara Bank. At the same time, senior citizens can get interest from 4% to 7.50%. This bank is getting the highest interest rate in this bank on 444 days fixed deposit. If you want a fine return and want to invest a little longer, then Canara Bank can be a great option.

conclusion

Fixed Deposit is a safe and easy way to invest money, especially if you want to avoid risk. However, it is very important to choose the right bank and FD period, so that you can take advantage of better interest rates. The FD rate of each bank may vary, and they change over time. So you should always look at these changes carefully. With correct information and correct choice, FD can be a great investment option, which gives you stable and sure returns.

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