akshaya tritiya 20261:42 PM IST
SFB FD Rates For Rs 12 Lakh One-Time Investment: These 5 small finance banks offer up to 8.5% fixed deposit interest to senior citizens
- Written by ZeeBiz WebTeam
Published: Zee Business| Updated: Zee Business
FD Rates for Senior Citizens: Senior citizens looking for better returns can benefit from fixed deposits (FDs) offered by small finance banks. These banks typically offer higher interest rates compared to larger commercial banks and often provide an additional interest premium for senior citizens, further boosting earnings. While well-known banks like SBI, PNB, and HDFC Bank dominate the market, small finance banks continue to attract depositors with competitive FD rates—offering up to 8.5 per cent interest.
When it comes to safe and steady investment options, fixed deposits remain a popular choice, especially for retirees seeking guaranteed returns.
In this article, we will explore how much a senior citizen can earn at maturity on an investment of Rs 12 lakh in various small finance banks, including Utkarsh Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank, Unity Small Finance Bank, and Equitas Small Finance Bank.
Representational images: Pixabay, Freepik, Unsplash
(Disclaimer: The returns mentioned below are indicative and for illustrative purposes only. Investors are advised to verify rates and consult a certified financial advisor before making any investment decisions.)
1/10
Utkarsh Small Finance Bank: Interest Rate
1/10Utkarsh Small Finance Bank offers an interest rate of 8.50 per cent to senior citizens for a tenure of 2 to 3 years.
2/10
Unity Small Finance Bank: Interest Rate
2/10Unity Small Finance Bank offers an interest rate of 8.25 per cent to senior citizens for a tenure of 1001 days.
3/10
Ujjivan Small Finance Bank: Interest Rate
3/10Ujjivan Small Finance Bank offers an interest rate of 8.10 per cent to senior citizens for a tenure of 2 years.
4/10
Suryoday Small Finance Bank: Interest Rate
4/10Suryoday Small Finance Bank offers an interest rate of 8.40 per cent to senior citizens for a tenure of 5 years.
5/10
Equitas Small Finance Bank: Interest Rate
5/10Equitas Small Finance Bank offers an interest rate of 8.20 per cent to senior citizens on its 888-day fixed deposit.
6/10
Utkarsh Small Finance Bank: Maturity on Rs 12 Lakh Investment
6/10A senior citizen investing Rs 12 lakh for 2 years can expect an estimated maturity value of Rs 14,19,834.75, with interest earned of Rs 2,19,834.75.
7/10
Unity Small Finance Bank: Maturity on Rs 12 Lakh Investment
7/10For a tenure of 1001 days, the estimated maturity value is Rs 15,01,212.83, with interest earned of Rs 3,01,212.83.
8/10
Ujjivan Small Finance Bank: Maturity on Rs 12 Lakh Investment
8/10With a 2-year deposit, a senior citizen can expect an estimated maturity value of Rs 14,08,750.47, earning interest of Rs 2,08,750.47.
9/10
Suryoday Small Finance Bank: Maturity on Rs 12 Lakh Investment
9/10For a 5-year fixed deposit, senior citizens can expect an estimated maturity value of Rs 18,18,427.91, with interest earned of Rs 6,18,427.91.
10/10
Equitas Small Finance Bank: Maturity on Rs 12 Lakh Investment
10/10For a tenure of 888 days, senior citizens can expect an estimated maturity value of Rs 14,61,992.36, with interest earned of Rs 2,61,992.36.
- 1
- 2
- 3
- 4
- 5
- 6