8 Banks Offering FD Rates Up to 9.5% On Fixed Deposits for Senior Citizens

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Ajay Kumar
Ajay Kumar
Ajay joined our team as a content writer after earning his master's degree. He has been writing for since his graduation as a freelancer and raises voice for the people in need with his work. He likes to work on data-driven news reports. When he is not writing, he spends his time with his family.

Fixed deposits (FDs) have long been a preferred investment avenue for senior citizens, offering them a secure option to grow their savings while ensuring a steady income stream during retirement. FDs offered by Small Finance Banks (SFBs) have gained prominence among the various options available due to their attractive interest rates and safety features. This article delves into the nuances of FDs in SFBs, highlighting their benefits and why they are considered a prudent choice for senior citizens. Below are some of the banks offering competitive interest rates on senior citizen accounts:

  1. Au Small Finance Bank Limited
  2. Capital Small Finance Bank Limited
  3. Equitas Small Finance Bank Limited
  4. Suryoday Small Finance Bank Limited
  5. Ujjivan Small Finance Bank Limited
  6. Utkarsh Small Finance Bank Limited
  7. ESAF Small Finance Bank Limited
  8. Fincare Small Finance Bank Limited
  9. Jana Small Finance Bank Limited
  10. North East Small Finance Bank Limited
  11. Shivalik Small Finance Bank Limited
  12. Unity Small Finance Bank Limited

Safety of Principal and Higher Interest Rates:

One primary reason senior citizens opt for FDs in SFBs is the safety of their principal amount. SFBs are regulated entities governed by the Reserve Bank of India (RBI) and are mandated to adhere to strict operational guidelines. Additionally, FDs in SFBs offer higher interest rates than those offered by traditional banks, providing senior citizens with an opportunity to maximize their returns on savings.

Senior citizen fixed deposit rate

Senior citizen fixed deposit rate
Bank name%Tenure1 year tenure %2 year tenure %3 year tenure%
Au Small Finance Bank Limited8.50 18 months
Equitas Small Finance Bank Limited9.00 444 days
ESAF Small Finance Bank Limited8.75 2 years to less than 36507.256.75
Fincare Small Finance Bank Limited9.21750 days
Jana Small Finance Bank Limited9.00 365 days
North East Small Finance Bank Limited9.25 555 days 111 days 8.508.757.00
Suryoday Small Finance Bank Limited9.25 2 years and 1 month7.359.108.75
Ujjivan Small Finance Bank Limited9.00

15 months8.757.707.70
Unity Small Finance Bank Limited9.50 
1001 days
Utkarsh Small Finance Bank Limited9.10 2 years to 3 years8609.108.10
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