FD rate up to 8.4% for senior citizens investing for five years; Know the list of banks
News Source : The Times of India
News Summary
- Some banks are continuing to offer up to 8.4% interest on fixed deposits (FDs) for senior citizens (age 60 years and above) for a five-year term with a maximum limit of Rs 3 crore.
- While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs.
- To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage.
Some banks are continuing to offer up to 8.4% interest on fixed deposits (FDs) for senior citizens (age 60 years and above) for a five year term with a maximum limit of Rs 3 crore.Read below to fi [+2888 chars]
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