Game Plan Of 7 Private Banks
- 09-Jun-2022
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Mumbai: 7 Private Banks Offer 7% Interest Rate On Fixed Deposits For Senior Citizens.It is said that good time for the investors to go for fixed deposits as the private banks are set to raise interest rates further on deposit products in the near future after the RBI increased the repo rate to 4.90 per cent. It is good for those investors who have a low-risk appetite and are looking for fixed income to create wealth. However, they should one thing in mind it is better to look for short-term fixed deposits (FDs) because historically, whenever interest rates rise in the economy, banks raise deposit rates on short-term fixed deposits and later on long term deposits. Here’s a list of seven private sector banks that are paying senior citizens 6 to 7 per cent returns on short-term fixed deposits.
The RBL Bank on Wednesday has revised the fixed deposit interest rates. Now the senior citizens will get interest rate of 6.7% on term deposits of less than Rs 2 crore maturing in 1 year to 2 years.
The bank also offers an interest rate of 6.75 per cent on deposits of 12 months to less than 15 months, a rate of 7.15 per cent on deposits of 15 months, and a rate of 6.75 per cent on deposits of 15 months 1 day to less than 24 months for elderly people.
