New FD Interest Rates for Senior Citizens: Exciting News! Seniors may get 8% interest from these 4 institutions; see details

 New FD Interest Rates for Senior Citizens: Exciting News! Seniors may get 8% interest from these 4 institutions; see details

New FD Interest Rates for Senior Citizens: Exciting News! Seniors may get 8% interest from these 4 institutions; see details

Seniors: The greatest investment choice for them is a bank fixed deposit, according to the latest FD interest rates. Four banks—Punjab & Sindh, CSB, IndusInd, and Capital Small Finance Bank—revised their FD rates in the week ending December 2, 2023. Seniors may get interest rates as high as 8.25 percent from these institutions.

The finest investing choice for older adults is a bank fixed deposit. Four banks—Punjab & Sindh, CSB, IndusInd, and Capital Small Finance Bank—revised their FD rates in the week ending December 2, 2023. Seniors may get interest rates as high as 8.25 percent from these institutions.

Bank of Punjab and Sindh (PSB)

Senior people and super senior citizens get additional interest on FD from PSB at rates of 0.50 percent and 0.15 percent, respectively. The maximum for exceptional 444 days FD is 7.40 percent upon adjustment on December 1, 2023, and it is good until January 31, 2024. Seniors who qualify for this FD will get 7.90 percent plus additional rates.

Seniors who have FDs for less than a year may earn interest rates of up to 6.00%. For FDs with a duration of one year or more, interest rates are 6.70 percent and 6.50 percent, respectively. FD interest rates range from 6.50 percent for one year to 443 days, 445 days to two years, and three to five years. The interest rate is 6.80 percent for terms longer than two to three years and 6.75 percent for terms longer than five to ten years.

Bank CSB

The rates were updated by CSB Bank on December 1, 2023. The bank provides its elderly folks with a unique FD called the "Acharya Fixed Deposit." For 401 days, senior folks might get up to 7.75 percent. The second-highest interest rate offered by the bank is 7.10 percent for 750 days. 5.50 percent is the interest rate for terms longer than a year. It is 6.00 percent from one year to 400 days and from 401 days to two years. For more than two years to less than 750 days and more than 750 days to five years, the rate is 6.25 percent. Senior adults get 6.50 percent for terms longer than five to ten years.

Industrial and Commercial Bank

FD rates were changed by the bank on December 1, 2023. Senior adults may take advantage of the highest interest rate of 8.25 percent offered by IndusInd Bank. The general public's interest rates are 0.75 percent lower than those for older persons. FDs lasting seven to fourteen days are also covered; older folks get 4.25 percent interest while the general public receives 3.50 percent. At 8.25 percent, senior folks are eligible for the maximum interest rate. One year to one year and a half, one year and a half to less than one year and a half, and one year and a half to two years. The interest rate is eight percent for terms more than two years but less than sixty-one months. The bank gives 7.75 percent to elderly people and 7.00 percent to others for 61 months and beyond.

Bank of Capital Small Finance

For a special 400-day FD, Capital Small Finance Bank (SFB) provides elderly residents a maximum interest rate of 8.10 percent. The bank is providing FDs with terms of 600 days, 900 days, and 12 months. Seniors may get interest rates of 8.00, 7.90, and 7.90 percent, respectively.