FD interest rate: In this era of new technology, there are many options to invest. But looking at a good return and safety of their money, most people like to invest in FD. Especially elderly people consider investing in FD as the right option considering the interest rates. (Best option for investment) Most banks also provide golden interest to senior citizens. Let us know in the news why senior citizens get good interest on FD (senior citizen FD interest rate) and what are the benefits to the banks from this.

This is how banks benefit 

Looking at the changing times, elderly people like to invest their money in the same place where there is safety of money along with granted return (investment tips). Banks understand this thinking of senior citizens very well and consider them long-time investors (invest for a long time) in the low-risk category. In such a situation, they encourage senior citizens to invest by offering them higher interest on FDs than normal citizens. Due to higher interest, more and more elderly people invest money in that bank and this benefits the bank (Bank benefits from FD).

0.50% more interest to senior citizens

Most banks include senior citizens (senior citizen FD interest rate) in the list of priority customers and give senior citizens 50 basis points i.e. 0.50% more interest on FDs of different tenures as compared to general fixed deposits. Apart from this, some banks give an additional interest of 0.25% to 'super senior citizens' of 80 years or more. Another benefit of getting FD is that the return is received according to the interest rate at which the money is deposited it. If the bank changes the interest rates in between then it will not affect your FD.

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