Senior citizens are getting 0.5% more interest than regular FD. Big banks like SBI, HDFC are giving 7.75% interest while small banks are giving up to 9.1% interest.

Utkarsh, Unity and Suryoday Small Finance Bank are giving up to 9.1% interest. These banks are giving the highest returns on 5-year FD.

Senior citizens get tax exemption of up to Rs 50,000 on FD interest. This additional benefit is available under section 80TTB.

PSU banks are giving 7.5-8%, private banks 7.5-8.5% while small finance banks are giving up to 9.1% interest. Choose according to your need.

Choose the FD period wisely. You will get money quickly in short term (1-2 years), more interest will be available in long term (5 years+).

FDs up to Rs 5 lakh get DICGC insurance. Be sure to check the rating before investing in co-operative banks and new SFBs.