Senior Citizen FD Rates: AU, Ujjivan & Other Small Finance Banks Compared

Senior citizens seeking secure and profitable investment avenues in India can benefit from the higher interest rates offered by Small Finance Banks (SFBs). These banks, designed to promote financial inclusion, often provide superior returns compared to larger commercial banks, particularly for fixed deposit (FD) schemes. With rates varying across institutions, senior citizens can strategically select a bank to maximise returns while keeping their capital safe. According to experts, comparing one-year, three-year, and five-year FD options is essential before committing funds.

AU Small Finance Bank FD Rates

AU Small Finance Bank offers senior citizens a 6.85% interest rate on a one-year FD. For longer tenures, the bank provides 7.60% on three-year FDs and 7.25% on five-year FDs. These rates allow senior citizens to secure steady returns while keeping liquidity in mind, making AU SFB a viable option for conservative investors according to financial analysts.

Equitas Small Finance Bank: Attractive Returns

Equitas Small Finance Bank extends a 7.75% interest rate on one-year FDs for senior citizens. Its three-year fixed deposit rate is 7.75%, while a five-year FD earns 7.50%. Experts note that Equitas SFB’s competitive rates make it an appealing choice for those looking to balance growth with safety.

Ujjivan Small Finance Bank: Steady Growth

Senior citizens investing in Ujjivan Small Finance Bank can avail a 7.75% interest rate on a one-year FD. Longer-term FDs offer 7.70% for both three-year and five-year tenures. According to investment advisors, Ujjivan SFB provides consistent returns and is ideal for individuals prioritising reliability over aggressive growth.

Utkarsh Small Finance Bank: Long-Term Focus

Utkarsh Small Finance Bank offers 6.50% on one-year FDs for senior citizens, slightly lower than some competitors. However, its three-year FD earns 8.15%, and the five-year FD is 7.75%. Experts recommend Utkarsh SFB for senior investors seeking higher returns on longer-term investments.

Suryoday Small Finance Bank: Highest Short-Term Returns

Suryoday Small Finance Bank stands out by offering a 7.90% interest rate on a one-year FD for senior citizens. Its three-year FD matches Utkarsh SFB at 8.15%, while the five-year FD reaches 8.40%. Analysts suggest Suryoday SFB is suitable for senior citizens aiming for maximum returns on both short- and medium-term deposits.

Key Takeaways For Senior Citizens

Senior citizens can optimise their FD investments by comparing interest rates across small finance banks. One-year FDs provide immediate benefits, while three-year and five-year options allow capital growth. Experts emphasise the importance of assessing both interest rates and the bank’s credibility to make informed decisions. Diversifying across multiple SFBs can also mitigate risk while enhancing overall returns.

Disclaimer: This article is for information only. The interest rates mentioned are based on publicly available data and may vary. Please consult financial experts or bank officials before making investment decisions.