SCSS vs Fixed Deposit Interest rate: Here is a list of banks offering higher than SCSS interest rate on their fixed deposits to senior citizens in September 2023.
Several bank fixed deposit schemes are now offering higher than SCSS interest rate to senior citizens. For the July-September quarter of FY 2023-24, the Government has kept the SCSS interest rate at 8.2%. Following is a list of banks offering higher than SCSS interest rate on their fixed deposits to senior citizens in September, according to BankBazaar data.
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Please note that the below content is for informational purposes only. SCSS provides guaranteed returns and tax advantage to senior citizens in the form of Section 80C deduction. These benefits make SCSS better than FD for senior citizens. Also, the Fixed Deposit interest rates offered by banks are for different tenors whereas the SCSS interest rate is valid for 5 years, which can be extended for another 3 years.
RBL Bank: It is offering up to 8.30% interest on FD to senior citizens.
Yes Bank FD: It is offering up to 8.25% interest on FD to senior citizens.
IndusInd Bank FD: It is providing up to 8.25% interest on FD to senior citizens.
Bandhan Bank FD: It is offering up to 8.35% interest on FD to senior citizens.
Suryoday Small Finance Bank: It is offering up to 9.6% interest on FD to senior citizens.
Ujjivan Small Finance Bank FD: It is offering up to 8.75% interest on FD to senior citizens.
ESAF Small Finance Bank FD: It is offering up to 9% interest on FD to senior citizens.
Unity Small Finance Bank FD: It is offering up to 9.5% interest on FD to senior citizens.
Jana Small Finance Bank FD: It is offering up to 9% interest on FD to senior citizens.
Utkarsh Small Finance Bank FD: It is offering up to 8.6% interest on FD to senior citizens.
Equitas Small Finance Bank FD: It is offering up to 9% interest on FD to senior citizens.
Fincare Small Finance Bank FD: It is offering up to 9.11% interest on FD to senior citizens.
AU Small Finance Bank FD: It is offering up to 8.25% interest on FD to senior citizens.
North East Small Finance Bank FD: It is offering up to 9.25% interest on FD to senior citizens.
Disclaimer: The above content is for informational purposes only. FD interest rates are subject to change. Please consult your bank for the latest rates.
