Up to 8.6% interest rate: Find out best interest rates offered on senior citizen FDs

fixed deposits (FD) are in for a rejoice since there are still many banks giving a higher FD interest rate. Furthermore, senior citizens have two more compelling reasons to invest in an FD — a slightly higher interest rate than general citizens and a higher threshold limit for tax deducted at source (TDS).

Do note that all the FD rates mentioned here are applicable on fixed deposit amounts of up to Rs 2 crore. Here's a list of the highest interest rates offered on senior citizen fixed deposits in public and private sector banks.

DCB Bank senior citizen fixed deposit rates

Private sector bank DCB Bank offers an interest rate of 8.6% on FDs maturing between 25 months and 26 months.

IDFC First Bank senior citizen FD rates

IDFC First Bank offers an interest rate of 8.5% on FDs maturing in 500 days.

Bandhan Bank senior citizen FD rates

Bandhan Bank offers an interest rate of 8.35% on FDs maturing in one year.

IndusInd Bank senior citizen FD rates

IndusInd Bank offers an interest rate of 8.25% on FDs maturing between one year and two years.

YES Bank also offers an interest rate of 8.25% on FDs maturing between 18 months and less than two years.

DBS Bank India senior citizen FD rates

DBS Bank India offers an interest rate of 8% on FDs maturing between 376 days and 540 days.

Similarly, Karur Vysya Bank also offers an interest rate of 8% on FDs maturing in 444 days.

Similarly, Tamilnad Mercantile Bank (TMB) also offers an interest rate of 8% on FDs maturing in 400 days.

Highest interest rates on senior citizen