Fixed deposits For Senior Citizens: 5 banks offering more than 8 percent returns..
Investors' trust in fixed deposits (FD) is now increasing. Many people are investing in it for the short and long term. The biggest reason for this is that now FDs are getting more interest. Also, the investment made here is not linked to the stock market. In such a situation, investing in it gives fixed returns. Many banks also keep bringing special plans related to FD from time to time. At present, many banks are giving more than 8 percent interest on FD. However, this interest is being given to senior citizens i.e. people whose age is more than 60 years. If you are more than 60 years old, then you can create a big fund by investing in the FD of these banks.
These FD schemes for senior citizens are for one year, two years, and three years. The banks that are giving more than 8 percent returns are private. At the same time, many banks are giving up to 8% interest on senior citizen FDs of up to Rs 3 crore maturing in 5 years. If we talk about tax savings FDs, then they are not getting much interest. This interest is less than 8 percent. Let us tell you that you can cut income tax by investing in FD for 5 years or more. This deduction is available under section 80C of Income Tax. You can deduct a maximum of Rs 1.50 lakh.
RBL Bank
RBL Bank is giving the highest interest on FD to senior citizens. This bank is giving an annual interest of 8.50% on a two-year FD. If you invest 10 thousand rupees in it, then after two years this amount will increase to Rs 11832.
Yes Bank
Yes Bank is also giving up to 8.50% interest on FD to senior citizens. If a senior citizen invests for 18 months, then he will get the same interest. Investing 10 thousand rupees for 18 months will give Rs 11772.
Bandhan Bank
Bandhan Bank is giving the highest interest to senior citizens on a one-year investment. This interest is 8.35%. If you invest 10 thousand rupees in it, then after one year this amount will increase to Rs 10862.
IndusInd Bank
IndusInd Bank is also giving more than 8 percent return on FD to senior citizens. This bank is giving interest at the rate of 8.25% on investments of both one year and two years. If a senior citizen invests 10 thousand rupees for one year, then he will get Rs 10851 and on investment of two years, he will get Rs 11772.
DCB Bank
DCB Bank is also giving more than 8 percent interest to senior citizens. However, this offer is only for 3 years investment. If a senior citizen invests 10 thousand rupees in this bank for 3 years, then he will get Rs 12701 at the rate of 8.05%.
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