For most Senior Citizens Fixed Deposit schemes are the best way to invest and grow money securely. Altough there are many options available now days but still old people prefer to invest in FD Schemes. So, you need to compare various bank’s interest rates on FD before investing. In this article today we will let you know about 5 highest interest paying banks in india.
State Bank of India
Almost every citizen of India has a bank account in SBI. The bank offers 7.6% Interest rates under ‘SBI Patrons’ Scheme. Super Senior Citizens will receive 10 basis points more than senior citizens. You need to make FD for 2 to 3 years period.
Indian Bank & Union Bank
Indian Bank and Union Bank both currently offer 8.05% of interest rates for senior citizens. Super senior citizens will receive an additional 0.25% interest in Indian Bank and 0.75% in case of Union Bank. Also FD tenure is different for both banks, Indian Bank and Union Bank of India will provide 8.05% interest in 400 days and 456 days FD respectively.
Punjab National Bank
In government banks Punjab National Bank is offering higher interest for Fixed Deposit to senior and super senior citizens. Super Senior Citizens will get additional 80 basis points as maturity benefits. If you create a 400 days FD in PNB you can get 8.10% ineterest.
RBL Bank
Compared to government banks private banks give more interest in Fixed Deposit schemes. If you want to get highest returns possible in Fixed Deposit schemes then you need to open FD account in RBL Bank. Here senior citizens can get 8.75% of interest. Another 0.75% interest will be given to Super Senior Citizens. For this you need to do a FD for 500 Days.
