In the last few months, both fixed deposits and inflation rates are being compared. After which it is being said that now bank FD is giving negative returns against inflation. This concern is greatest for senior citizens who depend on interest income on fixed deposits.
In the last few months, both fixed deposits and inflation rates are being compared. After which it is being said that now bank FD is giving negative returns against inflation. This concern is greatest for senior citizens who depend on interest income on fixed deposits. At the same time, there are some private banks which are giving returns of up to 7 per cent to senior citizens for three years to five years, beating inflation. Due to which senior citizens are earning good money. Let us also tell you which private banks are they after all.
Yes Bank is earning highest
In the list of these private banks, the name of Yes Bank is at the top. Yes Bank is offering an interest rate of 7 per cent on FDs of more than three years and less than five years. While its annualized yield is being seen at 7.19 percent. Whereas senior citizens are getting 6.50 percent interest on one year FD. This information has been taken from the website of the bank.
RBL Bank
The next name in this list is of RBL Bank. Which is giving a return of 6.80 percent to senior citizens on FDs of 3 to 5 years. The special thing is that if you make a tax saving FD in the bank, then you will earn the same amount in that too. Whereas on one year FD, the bank is giving a return of 6.50 percent to senior citizens.
Indusind bank
IndusInd Bank is also leaving no stone unturned to make senior citizens earn money. The bank is paying an interest of 6.50 per cent to senior citizens on FDs up to 3 years. While its annualized yield has been 7.11 percent. On the other hand, if you invest in Indus Tax Saver Scheme, you will get the same return annually. Whose annualized yield is 7.61%.
DCB Bank
On the other hand, DCB Bank is also giving a return of 6.45 per cent to senior citizens on FDs of 3 years and above and less than five years. If we talk about the annualized yield, then 6.77 percent is being seen. If we talk about FD of 5 years, then the same return is being seen. While the annualized yield is 7.05 per cent.
Bandhan Bank
If we talk about Bandhan Bank, here too senior citizens are getting more than 6% interest on fixed deposits up to 3 years. According to the bank’s website, it is giving a return of 6.25 percent. The special thing is that the bank is giving only 5.75 percent return on FD up to 10 years.
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