High FD interest rates for senior citizens: Get up to 8.1% on 3-year fixed deposits; check banks list here | Business – Newz9

Fixed Deposit rates for senior residents: Senior residents searching for profitable funding choices can profit from engaging fixed deposit (FD) interest rates provided by each private and non-private sector banks. They can earn up to 8.1% interest on three-yr FDs, with this fee relevant for deposits up to Rs 2 crore. Senior residents trying to make investments ought to benefit from the present high-interest rates out there.
As per an ET report, here are the very best FD interest rates for senior residents over three years provided by completely different banks:
1. DCB Bank
Offers 8.1% interest fee on FDs maturing between 26 months and fewer than 37 months for senior residents.
2. RBL Bank
Provides 8% interest fee on FDs maturing between 24 months in the future and 36 months for senior residents.
3. YES Bank
Offers an 8% interest fee on FDs maturing between 36 months and fewer than 60 months for senior residents.
4. Bandhan Bank
Provides an interest fee of seven.75% on FDs maturing between three years and fewer than 5 years for senior residents.
5. Bank of Baroda
Offers an interest fee of seven.75% on FDs maturing between greater than two years and up to three years for senior residents.
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6. IDFC Bank
Provides an interest fee of seven.75% on FDs maturing between two years in the future and three years for senior residents.
7. IndusInd Bank
Offers an interest fee of seven.75% on FDs maturing between two years 9 months and three years three months for senior residents.

Source: From Paisabazaar.com as of April 7, 2024, cited by ET
8. Axis Bank
Provides an interest fee of seven.6% on FDs maturing between three years and fewer than 5 years for senior residents.
9. Kotak Mahindra Bank
Offers an interest fee of seven.6% on FDs maturing in three years for senior residents.
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10. Punjab National Bank
Provides an interest fee of seven.5% on FDs maturing between greater than two years and up to three years for senior residents.
11. HDFC Bank
Offers an interest fee of seven.5% on FDs maturing between two years 11 months in the future and three years for senior residents.
12. ICICI Bank
Provides an interest fee of seven.5% on FDs maturing between greater than two years and three years for senior residents.
It’s essential to word that the interest earned on three-yr FDs is taxable for all taxpayers. Additionally, banks will deduct tax at supply (TDS) if the interest exceeds a sure threshold.