: Banks/NBFCs Offering the Best 5-year Fixed Deposit Interest Rates for Senior Citizens #IndiaNEWS #Business The fixed deposit is one of Indias most popular investment tools. Many people choose fixed

Banks/NBFCs Offering the Best 5-year Fixed Deposit Interest Rates for Senior Citizens #IndiaNEWS #Business
The fixed deposit is one of Indias most popular investment tools. Many people choose fixed deposits as their investment option for being the most secure investment option. Even senior citizens prefer to invest a significant portion of their savings in FD.
A fixed deposit is a deposit in which you can park a certain amount of money and get it locked for a fixed period. However, the tenure of the fixed deposit varies. It is decided by the individual who wants to invest in the FD. This tenure can range from a few days to many years. When you put your fund in the fixed deposits, you receive a fixed interest rate.
People prefer investing their money in FD mainly because of the guaranteed return rate. Once you put your money in an FD, you can be assured that you will get the stated rate of return. Banks and NBFC mention their fixed deposit rate of interest on their website as well as in the branches. It is easy for you to ascertain how much return you can make. There is an FD calculator on the websites as well that helps you calculate the overall interest amount you will receive after investing in FD.
Different banks and NBFCs offer fixed deposits at varied rates. Opening a fixed deposit is quite a simple process that can be done online or offline. The Bajaj Finance FD offers high safety, a high-interest rate, and an easy application process.
Fixed Deposit Interest Rates
FD is a great instrument of investment that can help you fulfil your medium and long-term financial goals. Here is the FD interest rate offered by Bajaj Finance.
In the case of non senior citizens, the FD interest rates are mentioned in the below chart:

Tenure
Cumulative rate
Monthly
Quarterly
Half Yearly
Annual

12 – 23 months
5. 85%
5. 70%
5. 73%
5. 77%
5. 85%

24 – 35 months
6. 60%
6. 41%
6. 44%
6. 49%
6. 60%

36 60 months
7. 20%
6. 97%
7. 01%
7. 08%
7. 20%

In the case of senior citizens, the FD interest rates are mentioned in the below chart:

Tenure in months
Cumulative
Monthly
Quarterly
Half-Yearly
Annual

12 – 23 months
6. 10%
5. 94%
5. 97%
6. 01%
6. 10%

24 – 35 months
6. 85%
6. 64%
6. 68%
6. 74%
6. 85%

36 60 months
7. 45%
7. 21%
7. 25%
7. 32%
7. 45%

Bajaj Finance offers the best and the most lucrative FD interest rates to its clients. You opt for their Special Fixed Deposit to get a better interest rate. These FDs offer you better interest rates and a better earning for a specific tenure.
Here is the table for the Special rates which is offered to both the Non-Senior Citizens and Senior Citizens:

Tenure
Cumulative Interest Rate

Non-Senior Citizens
Senior Citizens

15 months
6.