Senior Citizens: Earn Up To 8% FD Interest! Check Best Small Finance Bank Rates Now.
Personal Finance
M
Moneycontrol•05-01-2026, 13:03
Senior Citizens: Earn Up To 8% FD Interest! Check Best Small Finance Bank Rates Now.
- •Senior citizens can secure up to 8% interest on fixed deposits with small finance banks for a five-year term, capped at Rs 3 crore.
- •ESAF Small Finance Bank offers the highest rate of 8.10% for senior citizens on a 444-day deposit.
- •Jana Small Finance Bank and Utkarsh Small Finance Bank provide 8% interest for 3-year FDs, while Ujjivan Small Finance Bank offers 7.75% for 1-year FDs.
- •Deposits with small finance banks are covered by DICGC up to Rs 5 lakh, but experts advise caution due to their distinct risk profiles.
- •Overall FD rates have declined due to the RBI's cumulative 1.25 percentage point reduction in the repo rate over the past year.
Why It Matters: Small finance banks offer senior citizens up to 8% FD interest, but caution is advised despite DICGC cover.
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