Fixed deposits (FD) are often the preferred investment options for seniors. Most banks give 50 basis points (bps) of interest to senior citizens in addition to general customers. Interest rates on term deposits have fallen. Four successive repo rate hikes by the Reserve Bank of India (RBI) prompted banks to raise their fixed deposit (FD) rates. Some banks even offer anti-inflation rates on FDs.
Bank fixed deposit rates for seniors at 8% and above. Check FD rates from 4 banks here0