Bank FD : Fixed Deposit, which is considered a safe and simple way of investment. Many people consider it appropriate to save through FD instead of savings account. It also has many advantages. In this, investors get more interest of savings account.
Also, it is considered a better option for tax-saving. Banks offer higher interest rates to senior citizens as compared to common citizens. RBI has not made any change in the repo rate. Despite this, many banks have revised the interest of FD. Suryoday Small Finance Bank is included in this list.
How much are the interest rates for senior citizens?
Presently Suryoday Small Finance Bank is offering great interest to senior citizens. The maximum rates are 9.1 per cent. And the maximum interest rate for common citizens is 8.88%. The bank is offering 4.50% to 9.10% interest on FDs of less than Rs 2 crore to senior citizens.
The highest interest is being received on FD for so many days
The highest interest is available on fixed deposits of more than 2 years to 3 years, the rates are 8.88% for common citizens and 9.1% for senior citizens. 7 to 14 days FD 4.5%, 15 to 45 days FD 4.75%, 46 to 90 days FD 5%, 91 to 6 months 5.5% and more than 6 months and less than 9 months FD is getting 6% interest.
Interest rate for other tenure
7.35% on FDs of one year, 8.75% on FDs of more than 1 year to 15 months, 9% on FDs of above 15 months – 2 years, 7.35% on FDs of tenure more than 3 years and less than 5 years and 7.75% interest is being received on FDs ranging from 5 years to 10 years.
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