Latest FD Interest Rates For Senior Citizens 2023: 6 Best Banks Offering Rates Over 8% On 3-Year Fixed Deposits

In recent months, interest rates on fixed deposits have increased dramatically. Even now, fixed deposit interest rates for seniors can reach 8.5 percent. Here are six banks that, if you're wanting to invest in fixed deposits, will pay you more than 8 percent interest on short-term fixed deposits (up to three-year duration).

Senior adults can receive an interest rate of 8.5 percent from DCB Bank on deposits with maturities between 15 and 24 months and less than Rs 2 crore. These rates are valid beginning March 10, 2023.

For fixed deposits (FDs) with maturities between one day and three years and 18 months, IDFC First Bank offers the highest interest rate of 8.25 percent.

Seniors can obtain FDs from Induslnd Bank that mature between one year and six months and two years and nine months at the highest interest rate of 8.25 percent. These rates are valid from March 22, 2023.

When it comes to fixed deposits with maturities between two years and less than thirty months, Axis Bank pays the highest interest rate of 8.01 percent. The prices go into effect on April 4, 2023.

As on February 6, 2023, Bandhan Bank will provide elderly folks the best rate of 8.5 percent on FDs with a 600-day maturity.

The highest interest rate, 8.30 percent, is being offered by RBL Bank on fixed deposits with maturities between 15 months and one day and fewer than 725 days, as well as those maturing in 15 months. The new rates go into effect on February 1, 2023.