Most small finance banks offer an interest of 8-9 percent per annum on their long duration fixed deposits. Utkarsh Small Bank offers 9.10 percent on term deposits of 2-3 years tenure to senior citizens
Bandhan Bank s INSPIRE program provides an annual interest rate of up to 8.35% on fixed deposits, along with an improved banking experience and healthcare benefits.
To take advantage of the current high interest rates, you may allocate some additional money to fixed-income products like fixed deposits, bonds, debt mutual funds, Small Savings Schemes, etc.