Senior citizens are in luck, these banks are offering the highest interest rates on FDs
Fixed Deposit Interest Rate: In this era of rising inflation, everyone is considering investing money for a secure future. While there are numerous investment options available in the markets, investing money can yield substantial profits in a short period of time, the risks are also high. In such a scenario, fixed deposits (FDs) are the safest and best investment option with guaranteed interest. Currently, many private and public banks are offering high interest rates on fixed deposits to senior citizens. Let's find out more in the news below.
News - (FD Interest Rate). If you're considering investing in a fixed deposit for a secure future, there's good news for you. Many banks across the country are currently offering the highest interest rates to their general customers and senior citizens. Let's find out which bank is offering the highest interest rate on which fixed deposits.
You can invest your money in FDs with tenures ranging from 7 days to 10 years. All banks in the country offer guaranteed interest on FDs, ensuring your money is safe.
If a bank goes bankrupt, it can refund up to ₹5 lakh. Senior citizens receive higher interest rates on FDs than regular customers. Currently, many banks are offering the highest interest rates for senior citizens. Small finance banks offer the best FD rates for senior citizens.
Suryoday Small Finance Bank FD Interest Rate –
Suryoday Small Finance Bank (Suryoday Small Finance Bank FD Rate) is offering excellent interest rates to senior citizens. The bank is offering approximately 8.4 percent interest per annum on FDs with a 5-year term. This rate is effective from September 8, 2025.
Utkarsh Small Finance Bank FD Interest Rate -
Utkarsh Small Finance Bank is offering senior citizens an interest rate of 8.15% on FDs with a maturity period of 2 to 3 years. The bank's new FD interest rates are effective July 25, 2025.
Jana Small Finance Bank FD Interest Rate -
Know Small Finance Bank FD Rate is offering around 8% annual interest to senior citizens on 2 to 3 year and 5 year FDs, in fact this rate is applicable from September 16, 2025.
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Shivalik Small Finance Bank FD Interest Rate -
Shivalik Small Finance Bank (FD Rate) is also offering strong interest rates for senior citizens. The bank offers 7.8 percent interest on FDs with maturities of 18 months to 24 months, effective September 18, 2025.
Be careful while investing money in FD –
FD deposits in small finance banks are limited to ₹5 lakh by the Deposit Insurance Credit Guarantee Corporation (DICGC). This means that if the bank goes bankrupt, you will receive a refund of ₹5 lakh of your FD deposits. Therefore, limit your FD deposits to ₹5 lakh with small finance banks.
TDS on Bank FD –
Income tax (TDS) is applicable on interest income earned on fixed deposits. For individuals (under 60 years of age), if the annual interest exceeds ₹50,000, a 10% TDS is deducted. For senior citizens (60 years of age and above), the limit is ₹1 lakh per year; if the interest is within this limit, no TDS is deducted.