What are the best interest rates on a 3 year fd for the senior citizens?

Senior citizen FD rates: one year tenure

Bank Name1 YearQly Compound Return

RBL Bank6.75

Bandhan Bank6.50

DCB Bank6.5

IDFC First Bank6.5

Leading banks provide term deposit plans called senior citizen fixed deposits (FD) with preferential interest rates for people over 60. Besides the additional interest rate, which can be up to 0.50 percent more than that offered to the general public, these fixed deposit accounts provide older residents with a host of other advantages. If it is a 5-year tax-saving fixed deposit, the senior citizen FD rates can further reduce taxes while generating more interest.


Shriram City Fixed Deposits for senior citizens


Noteworthy features and benefits of Shriram City Union Finance’s FDs are not just about higher senior citizen fixed deposits. Here’s a quick rundown for you.



1. The Senior Citizen FDs can be anywhere between seven days and twenty years.


2. Regular FD interest rates are typically 0.25 percent to 0.65 percent higher for senior citizens.


3. Instead of quarterly compounding, banks may provide monthly, yearly, or semi-annual interest computations.


4. Senior citizens can invest in three-year period fixed deposits that save taxes by doing so.