5 banks that offer FD interest rates of 8.5-9% for senior citizens

This week Unity Small Finance Bank hiked FD interest rate and now is offering 9% interest to their senior citizen investors. Though most banks have hiked their fixed deposit interest rates, these include big name banks, still they don’t match the rates offered by small finance banks which now offer 8.5-9% interest rate for senior citizens.

Here is a look at 5 banks that offer above 8.5% FD interest rates for senior citizens.

Unity Small Finance Bank

The bank offers senior citizens an interest rate of 9% p.a. on fixed deposits invested for terms of 181 and 501 days.

Source: Bank website

ESAF Small Finance Bank
The bank is now offering interest rates in the range of 4.50% to 8.50% for senior citizens on FD tenures from 7 days to 10-years. The revised FD interest rates are effective from November 1, 2022, as per the bank’s website.

According to the EASAF Website, "Special FD rate of 8.00% for 999 days will be available till 30-Nov-2022.”

Source: Bank website

Ujjivan Small Finance Bank
Ujjvan Small Finance Bank offers 0.75% higher interest rate to their senior citizen customers. These rates are effective from November 5, 2022. The highest rate offered by the bank is 8.75% for 80 weeks (560 days). The below rates are applicable for domestic & NRO* fixed deposits and Sampoorna Nidhi

Source: Bank website

Fincare Small Finance Bank
Fincare Small Finance Banks offer 0.50% higher interest rate to their senior citizen customers. These rates are effective from November 9, 2022. The highest rate offered by the bank is 8.50% for tenure of 1000 days.

Source: Bank website

Utkarsh Small Finance Bank
Utkarsh Small Finance Bank offers 0.75% higher interest rate to their senior citizen customers. These rates are effective from October 17, 2022. The highest rate offered by the bank is 8.50% for tenure of 700 days for senior citizens. These rates are applicable for fresh fixed deposits as also for renewal of existing fixed deposits.

Source: Bank website