Senior Citizen FDs: PSU Banks Offer Up to 7.10% Interest on 1-Year Deposits - See Returns on ₹5 Lakh

Fixed deposits (FDs) remain a favorite choice for senior citizens, and it’s easy to see why. FDs offer higher interest rates than savings accounts, ensure the safety of your money, and remove the stress of market fluctuations. Many FDs also provide monthly or quarterly payouts, making it easier to manage daily expenses. On top of that, certain FD plans come with insurance coverage of up to ₹5 lakh through the Deposit Insurance and Credit Guarantee Corporation (DICGC).