Various public and private sector banks offer the highest interest rates on senior citizen fixed deposits with special offers, which is a good opportunity for senior citizens looking to save money in the bank. Interest is increasing by more than 8% in these DCB, RBL and Yes Bank. If I deposit Rs.1 lakh, how much will I get after maturity? Let us find out now.
Bank fixed deposits are popular for senior citizens who want to invest without risks. Banks usually offer them an additional interest of up to 50 basis points. However, some banks provide additional interest rates on specific tenures. Three banks offer 8% to 8.10% interest on 3-year term deposits to senior citizens. This interest rate applies to fixed deposits below Rs.2 crore. Let’s find out how much a senior citizen will get if they deposit Rs.1 lakh at these banks.
DCB Bank
DCB Bank is offering senior citizens a maximum interest rate of 8.10% on deposits made within 26 months to 37 months. If a senior citizen deposits Rs.1 lakh in this Bank, they will receive Rs. 24,660 as interest upon maturity, for a total of Rs.1,24,660.
RBL Bank
RBL Bank is another private bank offering senior citizens the highest interest rate of 8%. This interest is available for maturity tenures between 24 months and 36 months. If senior citizens deposit Rs.1 lakh, they will receive Rs.23,700 as interest after maturity at an interest rate of 8%. In total, they will receive Rs.1,23,700.
Yes Bank
Yes Bank, a private sector lender, is also offering maximum interest rates on fixed deposits of 36 months to 60 months. They offer 8% interest on those tenures. If senior citizens deposit Rs.1 lakh at 8% interest, they will receive Rs.23,700 as interest after 36 months of tenure. In total, they will receive Rs.1,23,700.
For more information, please get in touch with the helpdesk officer at a nearby branch or visit the responsible bank’s official website.
