Best Banks that Offer Upto 9.50% Interest Rates on Fixed Deposit in June 2024

Many banks offer high interest rates on fixed deposits. Senior citizens can receive up to 9.50% interest, which is 50 basis points higher than the rates offered to regular depositors. This additional interest is provided by most banks. With the Reserve Bank maintaining high repo rates, banks are attracting customers by offering higher interest rates on fixed deposits.

Axis Bank offers fixed deposits, providing senior citizens with additional interest rates. This extra benefit can help senior citizens save money and earn fixed interest without risk, thereby supporting them financially in old age.

Let’s take a look at some specific bank interest rates:

  • HDFC Bank: offers interest rates ranging from 3.50% to a maximum of 7.75% for deposits of 7 days to 10 years.
  • Bandhan Bank: Senior citizens can earn interest ranging from 3.75%to a maximum of 8.35%.
  • IndusInd Bank: Interest rates range from 4 to 8.25%for different tenures.
  • Utkarsh Small Finance Bank: Interest rates range from 4.60% to 9.10%, with the highest interest of 9.10% applicable for a tenure of 1500 days.
  • Unity Small Finance Bank: Offers the highest interest rate of 9.50% for a 1001 days deposit.
  • North East Small Finance Bank: Provides a 9.50%interest rate for deposits ranging from 546 to 1111 days.
  • ICICI Bank: Offers a maximum interest rate of 7.75%on deposits of 15 months to two years.
  • Axis Bank: Provides the highest interest rate of 7.85%for deposits of 17-18 months.
  • Punjab National Bank: Offers 7.75%interest for 400 days tenure deposits.

Please Note: The interest rates depend on the deposit amount and tenure; we advise you to visit the official bank website or contact a nearby branch channel to get any changes to the interest rates.