What are the RBI senior citizen FD rates?

Fixed deposits (FDs) meant for senior citizens, aged 60 and above, offer attractive interest rates, often starting from 7% p.a. These FDs offer steady returns for retirees over a period. Here’s what you should know:

• Higher Returns: Senior citizens generally get 0.50% or more interest per annum than regular FDs, with rates typically starting at 7% p.a. for 1–10 years.
• Flexible Tenures: Choose short tenures like 1 year for quick access or longer tenures of 5 years for better returns.
• Low-Risk Option: These FDs are reliable with fixed returns unaffected by market fluctuations, ideal for senior citizens.
• Payment Choices: Opt for monthly, quarterly, half-yearly or yearly interest for regular income or cumulative growth at maturity.

Senior citizens benefit from these higher rates as a more reliable investment option, with interest compounded monthly, quarterly or annually depending on the financial institution’s terms, enhancing returns over the deposit tenure.