3 Banks Giving Returns Up To 7.5% On Fixed Deposits For Senior Citizens
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DCB Bank
The fixed deposit interest rates at DCB Bank have been revised and are effective as of February 5, 2021. The new rate of interest is 4.25 percent for a term of 7-14 days, 4.80 percent for 15-45 days, 4.75 percent for 46-90 days, 5.50 percent for 91 days to 6 months, and 5.95 percent for 6-12 months. Senior citizens will receive an additional 0.50 percent interest rate on their deposits for the duration of their deposit.
| Tenure | Senior Citizen FD Rates |
|---|---|
| 7 days to 14 days | 4.75% |
| 15 days to 45 days | 5.30% |
| 46 days to 90 days | 5.25% |
| 91 days to less than 6 months | 6.00% |
| 6 months to less than 12 months | 6.45% |
| 12 months to less than 15 months | 6.55% |
| 15 months to less than 18 months | 6.85% |
| 18 months to less than 700 days | 7.00% |
| 700 days | 7.20% |
| More than 700 days to less than 36 months | 7.00% |
| 36 months | 7.25% |
| More than 36 months to 60 months | 7.25% |
| Source: Bank Website |
Yes Bank
Fixed deposit schemes are available from Yes Bank, with periods ranging from seven days to ten years. With effect from February 8, 2021, the bank has revised interest rates on its FD. Yes Bank is currently offering the general public an interest rate of 3.50 percent to 6.75 percent. Senior citizen depositors will get a 50 basis point higher on their deposits across all tenors. However, for tenors of three years and more, the bank is providing 75 basis points (0.75%) additional rates to the senior citizens opposed to the general public.
| Tenure | Senior Citizen FD Rates |
|---|---|
| 7 to 14 days | 4.00% |
| 15 to 45 days | 4.50% |
| 46 to 90 days | 5.00% |
| 3 months to less than 6 months | 5.50% |
| 6 months to less than 9 months | 6.00% |
| 9 months to less than 1 Year | 6.25% |
| 1 years to less than 2 years | 6.75% |
| 2 years to less than 3 years | 7.00% |
| 3 Years to less than equal 10 years | 7.50% |
| Source: Bank Website |
IndusInd Bank
As of April 26th, 2021, the interest rate on IndusInd bank’s term deposits has been revised. And after the most recent update, IndusInd Bank currently offers interest rates to the general public ranging from 2.75 percent to 6.5 percent. Senior citizens, on the other hand, will continue to get a 0.50 percent additional benefit on their deposits. Senior citizens will get interest rates ranging from 3.25 percent to 7% on deposits maturing in 7 days to 5 years.
| Tenure | Senior Citizen FD Rates in % |
|---|---|
| 7 days to 14 days | 3.25 |
| 15 days to 30 days | 3.25 |
| 31 days to 45 days | 3.50 |
| 46 days to 60 days | 4.00 |
| 61 days to 90 days | 4.25 |
| 91 days to 120 days | 4.50 |
| 121 days to 180 days | 5.00 |
| 181 days to 210 days | 5.50 |
| 211 days to 269 days | 5.75 |
| 270 days or 354 days | 6.00 |
| 355 days or 364 days | 6.50 |
| 1 Year to below 1 Year 6 Months | 7.00 |
| 1 Year 6 Months to below 1 Year 7 Months | 7.00 |
| 1 Year 7 Months to below 2 Years | 7.00 |
| 2 years to below 2 years 6 Months | 7.00 |
| 2 years 6 Months to below 2 years 9 Months | 7.00 |
| 2 years 9 Months to below 3 years | 7.00 |
| 3 years to below 61 months | 7.00 |
| 61 months and above | 6.75 |
| Indus Tax Saver Scheme (5 years) | 7.00 |
| Source: Bank Website |
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