Banking: These 7 small banks are offering great deals for senior citizens, giving up to 8% interest on fixed deposits..

For senior citizens, Fixed Deposits (FDs) are still considered one of the most reliable investment options. Amidst the fluctuations in the stock market and mutual funds, FDs offer a safe option where the money is secure and the returns are predetermined.

Notably, some small finance banks are still offering up to 8 percent interest on 3-year FDs. This is beneficial for those who want a regular income after retirement and do not want to take any risks. Let's learn about some small finance banks where you can get attractive interest rates.

1- Jana Small Finance Bank

Jana Small Finance Bank is offering senior citizens an 8 percent interest rate on 3-year fixed deposits. This interest rate is applicable on FDs up to Rs 3 crore. This bank is ideal for investors who want higher returns with a fixed-term FD. Despite being a small finance bank, it offers the benefit of deposit insurance.

2- Utkarsh Small Finance Bank
Utkarsh Small Finance Bank is also offering senior citizens an 8 percent interest rate on 3-year FDs. This bank also accepts FDs up to a maximum of Rs 3 crore. This can be a good option for those who want higher interest rates and are willing to try a relatively new bank.

3- Ujjivan Small Finance Bank
Ujjivan Small Finance Bank offers senior citizens a 7.7 percent interest rate on 3-year FDs. This rate is higher than that offered by larger banks. The bank focuses on retail customers, and the FD process is considered easy. This is a suitable option for those seeking safe and balanced returns.

4- AU Small Finance Bank
AU Small Finance Bank is offering senior citizens a 7.6 percent interest rate on 3-year FDs. This bank is known for its strong branch network and digital facilities. For those who prioritize the bank's stability and service, this bank can be a reliable option. 5- Slice Small Finance Bank
Slice Small Finance Bank offers a 7.5 percent interest rate on 3-year FDs for senior citizens. This bank has grown rapidly in recent years. This option is suitable for investors who are satisfied with slightly lower but stable returns (senior citizen investment option).

6- Equitas Small Finance Bank
Equitas Small Finance Bank is also offering a 7.5 percent interest rate on 3-year FDs for senior citizens. The bank has a strong customer base, and timely interest payments on FDs are considered its hallmark. It is a reliable name for those seeking safe investments.

7- Shivalik Small Finance Bank
Shivalik Small Finance Bank offers a 7.5 percent interest rate on 3-year FDs for senior citizens. This bank is suitable for those who want to get better returns by investing in a small finance bank. Before investing, be sure to check the availability of branches and services.

Conclusion
If you are a senior citizen and want to make a safe investment for 3 years, then FDs from small finance banks still offer a great opportunity. An interest rate of up to 8 percent is rare in the current environment. Before investing, be sure to understand the bank's credibility, FD terms, and tax rules so that your decision is completely beneficial.

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