These banks are giving 9% interest on FD to senior citizens, know the interest rate

Senior Citizens FD: There has been a continuous decline in the stock market for the last one and a half month. At the same time, such a decline has been seen for the third time in the year 2024. Earlier such a situation was seen in March 2024. In such a situation, the tension of investors has increased. Sensing unsafe investments and huge losses, many investors are now staying away from the stock market and looking for safe investments. In such a situation, fixed deposit can prove to be a good safe investment option for them. Especially for investors like senior citizens.

Good returns on safe investment

Fixed deposit can be a good investment for senior citizens because the money invested in it is completely safe and pre-determined interest is also available on it. Many banks are offering returns of 0.50%-0.75% more than their normal interest rates on an annual basis to attract senior citizen investors. In such a situation, investors above 60 years of age can earn good returns from safe investments.

Loan is easily available against FD

At the same time, when in need of cash, senior citizens are also eligible for loan against fixed deposit. In case of any need, an investor can easily take a loan up to 70-80 percent of the principal amount of the fixed deposit, while installment facility is also available to repay the loan amount. That means you can easily repay the loan amount taken against FD through installments. During this period, your FD remains safe until the loan is fully repaid by you.

These banks are giving interest up to 9%

• Northeast Small Finance Bank is offering the highest interest rate of 9.50% for senior citizens on FDs maturing in 546 – ​​1111 days. However, the investment amount should be less than Rs 5 crore. These interest rates are effective from June 25, 2024.
• Sarvodaya Small Finance Bank is offering the highest return of 9.10% for senior citizens on FDs maturing between 2 years to 3 years. These interest rates have become effective from September 4, 2024.
• Whereas, Unity Small Finance Bank is offering the highest returns for senior citizens at 9.50% for a tenure of 1001 days and 9.25% for a tenure of 701 days. These rates are effective from 7 October 2024.
• Utkarsh Small Finance Bank is offering the highest interest rates for senior citizens at 9.10% for a tenure of 1001 days and 9.25% for a tenure of 1500 days. These rates are applicable from June 7, 2024.