Best Interest Rate on Senior Citizens Bank FDs – 1 , 2 , 3 , 5 Year Block

Best Senior Citizen FD Interest Rate 2017-18: Senior citizen bank FDs are one of the highest interest rate bank FDs of all time without any doubt. As a Sr. citizen if you are planning to open a Bank FD with highest interest rate, then this article will help you find out the best FDs in 2017 with highest interest rates. You can easily find out the highest fixed deposit interest rates for senior citizens and start investing to get a good return.

As a senior citizen, it is good to put money for short term deposit schemes like fixed deposit schemes rather than looking for insurance policies or long term investment plans. Here, you can find out the bank’s FD interest rate and also how much return you can expect for an investment of Rs 10,000 in any of the bank FDs.

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Also Read  Top 5 Tax Saving Fixed Deposit Interest Rate 2017 | Best Tax Saver FD Interest Rates Comparison

Latest Interest Rate on Senior Citizens Bank FDs 2017

First of all you should always compare fixed deposit interest rates for senior citizens in different banks, before settle down with the best one.

Top 5 Senior Citizen FDs Interest Rate for 1 year block

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Bank Name Interest Rate Final Return
IDBI Bank 8.50 10,877
DCB Bank 8.30 10,856
Lakshmi Vilas Bank 8.30 10,856
City Union Bank 8.25 10,851
ICICI Bank 8.25 10,851

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Top 5 Senior Citizen FDs for 2 year block

Bank Name Interest Rate Final Return
DCB Bank 8.50 11,832
Lakshmi Vilas Bank 8.40 11,809
ICICI Bank 8.25 11,774
J & K Bank 8.25 11,774
Karur Vysya Bank 8.25 11,774

Top 5 Senior Citizen FDs for 3 year block

Bank Name Interest Rate Final Return
DCB Bank 8.50 12,870
Lakshmi Vilas Bank 8.40 12,832
ICICI Bank 8.25 12,776
Karur Vysya Bank 8.25 12,776
J & K Bank 8.10 12,720

Top 5 Senior Citizen FDs for 5 year block

Bank Name Interest Rate Final Return
DCB Bank 8.40 15,154
Lakshmi Vilas Bank 8.30 15,080
Karur Vysya Bank 8.25 15,043
Andhra Bank 8.00 14,859
HDFC Bank 8.00 14,859
Also Read  Latest Bank Fixed Deposit Interest Rates 2016

Fixed deposit interest rates for senior citizens in post office

8.5% per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st December. Premature closure is allowed after one year on deduction of an amount equal to 1.5% of the deposit & after 2 years 1% of the deposit. TDS is deducted at source on interest if the interest amount is more than INR 10,000/- p.a.

Disclaimer: This data is collected from The Economic Times Wealth Magazine. Please visit the bank website first to check the current Senior Citizen bank FD interest rates in 2017 and then only invest in fixed deposit schemes.

List of Public Sector Banks In India

Bank of Baroda, Allahabad Bank, State Bank of Saurashtra, Central Bank of India, State Bank of Patiala, Andhra Bank, Canara Bank, State Bank of Hyderabad, Oriental Bank of Commerce, Dena Bank, State Bank of Mysore, State Bank of Indore, UCO Bank, Vijaya Bank, Syndicate Bank, State Bank of India, Bank of India, Corporation Bank, Indian Bank, Union Bank of India, Punjab National Bank, State Bank of Bikaner and Jaipur, State Bank of Travancore.

Also Read  Latest Bank Fixed Deposit Interest Rates 2016

List of Private sector banks in India

Bank of Rajasthan, Catholic Syrian Bank, Bank of Punjab, Dhanlakshmi Bank, HDFC Bank, Karur Vysya Bank, ING Vysya Bank, Laxmi Vilas Bank, Karnataka Bank, South Indian Bank, United Western Bank, UTI Bank, Centurion Bank, City Union Bank, Development Credit Bank, Federal Bank, ICICI Bank, IndusInd Bank, Jammu & Kashmir Bank

Which bank is best for fixed deposit? So, you should always check your bank website for the latest interest rate of bank FDs and then compare with the list of highest fixed deposit interest rates for senior citizens. Fixed deposit schemes has lost their glitter after the reduction in interest rates in last few months. If you are ready to take little more risk, then investing in debt mutual funds could be a best alternative to bank fixed deposit schemes. Write a comment below and share about your thoughts and experience.

Best Interest Rate on Senior Citizens Bank FDs – 1 , 2 , 3 , 5 Year Block
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