FD Scheme: For senior citizens, Bank of Baroda is offering 7.30 per cent, ICICI Bank 7.20 per cent and HDFC Bank 7.10 per cent interest on 1 year FD.
The Reserve Bank of India (RBI) has cut the repo rate twice this year. RBI had also reduced the repo rate in April after February. With this decision of RBI, on one hand the banks made the interest rates of loans cheaper, on the other hand the banks also reduced the interest on FD. However, many banks are still giving tremendous interest on FD to their customers. Today we will tell you about those banks here which are offering bumper interest of up to 8.25 percent to senior citizens on 1 year FD.
These banks are giving the highest interest to senior citizens on 1 year FD
- Private sector Bandhan Bank is giving 8.25 percent interest on 1 year term FD to senior citizens above 60 years of age.
- Hinduja Group’s IndusInd Bank is giving 8.00 percent interest to senior citizens on 1 year term FD.
- Private sector RBL Bank is also offering 8.00 percent interest to senior citizens on 1 year FD.
- Apart from these, Tamil Nadu Mercantile Bank is offering 7.75 percent interest to senior citizens on 1 year FD.
How much interest are SBI, PNB, HDFC Bank paying?
Let us tell you that these banks are giving the highest interest to senior citizens on 1 year FD. Talking about State Bank of India, the country’s largest government bank is giving only 7.20 percent interest to senior citizens on 1 year FD. Apart from this, Punjab National Bank is also giving 7.20 percent interest to senior citizens on 1 year FD. Whereas, Bank of Baroda is offering 7.30 percent, ICICI Bank 7.20 percent, HDFC Bank 7.10 percent interest to senior citizens on 1 year FD.
Disclaimer: This article has been written for information purposes only. Please consult your financial advisor before making any investment or taking any financial risk.
