New Delhi: A sizable portion of the population still feels that bank FDs are a safe way to invest their money. Since the onset of the Corona Pandemic, banks have been steadily lowering the interest rates on their FDs. People are not getting good profits as a result of this. Fixed deposits, however, are still a viable financial option for retirement planning. This also keeps your money safe, and you can readily access it when you need it.
If you also want to invest your retirement funds in fixed deposits, several banks are offering very attractive interest rates on these fixed deposits in this situation. It is critical to know which bank offers the best interest rate before investing money anywhere. It all relies on how quickly your money grows. Banks change the interest rates on FDs on a regular basis.
The deposit rate is changed by the Reserve Bank of India on a regular basis. Banks use this information to determine the rate of interest on FDs. Today, we'll tell you about five such banks that have changed their fixed deposit interest rates. Senior citizens in these nations can earn up to 6% interest on their savings (Senior Citizen FD Rates). So, let's learn more about these financial institutions:
- IndusInd Bank offers an FD interest rate of around 6% to the general public, but it offers a 6.5 percent interest rate to elderly persons.
- RBL Bank offers a 6% interest rate on FDs to the general public, but a 6.5 percent interest rate to senior citizens.
- General customers of DCB Bank can earn up to 5.55 percent interest. This bank, on the other hand, offers older residents a 6.05 percent interest rate.
- Normal customers of Bandhan Bank can earn up to 5.25 percent on their FDs. At the same time, it offers older folks a 6-percentage-point interest rate.
- DFC First Bank is currently giving its general customers a 5.25 percent interest rate on FDs. At the same time, it is providing older folks a 5.75 percent interest rate.
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