Key facts
- Senior citizens can earn up to 8.3% interest on fixed deposits from small finance banks.
- Unity SFB and Shivalik SFB are offering the highest rate of 8.3%.
- DCB Bank leads private sector banks with an 8% FD interest rate for senior citizens.
- Among public sector banks, Bank of India offers the highest rate at 7.45%.
Senior citizens seeking higher returns on their savings can now access fixed deposit (FD) interest rates of up to 8.3% across various banks. Small finance banks are leading this trend, with Unity SFB and Shivalik SFB offering the highest rate of 8.3% for specific tenures.
Other small finance banks also provide competitive rates, including Equitas Small Finance Bank, ESAF Small Finance Bank, Suryoday Small Finance Bank, and Utkarsh Small Finance Bank, all offering 8.25% for different durations. Jana Small Finance Bank offers 8.05%, and AU Small Finance Bank provides 7.9%.
Among private sector banks, DCB Bank stands out with its highest FD interest rate of 8% for senior citizens on select tenures. Major private banks offer lower rates; HDFC Bank's highest is 7%, while ICICI Bank offers 7.1%.
In the public sector banking space, Bank of India provides the highest FD interest rate at 7.45% for senior citizens. State Bank of India offers 7.05%, and Canara Bank and Punjab National Bank offer 7.1% as their highest rates.