Stay updated with breaking news from Highest Interest Rate. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Compared to the previous fiscal year, there has been significant growth in income and principal amount, indicating a healthy financial performance.
Those who want to earn marginally higher interest rates on their fixed deposits, at times, lock them in the name of their old parents since banks offer generally 50 basis points higher interest rate to senior citizens.
Senior Citizen FD Rates vs SCSS: Banks and NBFCs offer FD interest rates of 2.50-9.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. On the other hand, SCSS, which is a prominent investment tool, offers 8.2% interest.
The bank is offering the highest FD interest rate of 8% to general customers and 8.60% for senior citizens, after the revision.
Here is a comparison between SBI's FD interest rates, which have not changed since February 2023, and bank FD interest rates that were revised in October.