Even today, when there are many investment options available in the market, bank fixed deposits (FDs) are still the preferred choice among senior citizens. Bank FDs are considered a reliable and safe option. The main reason for this is the certainty of returns and complete capital protection. Compared to market fluctuations or risky investment instruments, FDs provide senior citizens with stable and guaranteed interest rates. This is why millions of people prefer FDs to earn a regular income and secure interest after retirement.

The good news for senior citizens is that many banks are offering FD returns of more than 7%. Senior citizens are also given extra interest compared to regular customers, which gives them even better returns. So, let's explore which major banks offer the most attractive interest rates for senior citizens.

HDFC Bank FD: An attractive opportunity for 7.10% interest
Senior citizens enjoy special benefits at HDFC Bank, the country's largest private sector bank. The bank is offering a 7.10% interest rate on its FDs with a tenure of 18 to 21 months. This rate is highly beneficial for senior investors who want good and secure returns in a short period of time. HDFC FDs offer both convenience and service, making them a reliable option for retirees.

ICICI Bank FD: 7.10% return on 2 to 10-year tenures
Another well-known private sector bank, ICICI Bank, is offering impressive returns on FDs for senior citizens. The bank is offering 7.10% interest on FDs with a tenure of 2 to 10 years. This is an excellent option for long-term investors. This offer from ICICI Bank can prove to be very beneficial for those who need a stable interest over a long period of time after retirement.

SBI FD: 6.95% interest on a safe investment
The FD schemes of State Bank of India (SBI), the largest public sector bank, are very popular among senior citizens. The bank offers 6.95% interest on its 2- to 3-year FDs. SBI's reliability, service network, and the trust of a public sector bank provide senior citizens with a sense of security. Therefore, it is a stable investment option for those seeking a lower risk and a good interest rate.

Union Bank of India FD: 6.60% interest on 3-year FDs
Union Bank of India offers a 6.60% interest rate on its 3-year FDs for senior citizens. Although this rate is slightly lower than that of other private banks, being a public sector bank makes it a safe and reliable option for senior citizens.

Canara Bank FD: Offers 7% Interest on 444 Days
If you're looking for good returns in a short period, Canara Bank's 444-day FD may be best for you. The bank offers a 7% interest rate for senior citizens on this specific term. This FD is a good option for investors looking for better interest rates for tenures of one to one and a half years.

Conclusion
FDs for senior citizens remain a safe, stable, and reliable investment option. Banks like HDFC, ICICI, and Canara offer excellent returns with interest rates above 7%. Options like SBI and Union Bank also offer reliability and stability. Senior citizens can invest in these FDs based on their needs and tenure, helping them plan for a comfortable and secure retirement. (Note: This article is for informational purposes only and should not be construed as investment advice. Consult a financial advisor before making your investment decision.)

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