Good news for senior citizens. Many people want to invest but are not able to invest their money for fear of unsafe investment. Are you also wanting to invest in something for better return money? Then this article is for you. Actually, today we are going to discuss some fixed deposit schemes with safe investment and high returns for people above 60 years of age that are completed in a period of 5 years. Interest is also being paid at the rate of 8.75 percent. These interest rates are applicable on fixed deposits of less than Rs 3 crore.
Highest interest rate on these banks
1. Suryoday Small Finance Bank is offering 8.75% interest rate on its FDs maturing in five years.
2. Unity Small Finance Bank is offering 8.65% interest rate on its FDs maturing in five years.
3. Utkarsh Small Finance Bank is offering 8.35% interest rate on its FDs maturing in five years.
4. AU Small Finance Bank is offering 7.75% interest rate on its FDs maturing in five years.
5. Equitas Small Finance Bank is offering an interest rate of 7.75% on its FDs maturing in five years.
6. Apart from this, Jana Small Finance Bank is also offering an interest rate of 7.75% on its FDs maturing in five years.
7. Ujjivan Small Finance Bank is offering an interest rate of 7.7% on its FDs maturing in five years.
Before investing, keep these in mind
Senior citizens can claim a deduction of up to Rs 50,000 under Act 80TTB. This deduction applies to interest income earned from various sources, including bank FDs. Further, this deduction of up to Rs 50,000 is the limit for the total interest income of deposits held in banks, post offices, and banking cooperative societies (both savings and FD accounts).
Desclimer: For any financial investment anywhere on your own responsibility, Times Bull will not be responsible for it.
