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Fixed deposits are still a favorite investment option for investors. They offer guaranteed returns. Today, we'll talk about a bank that's offering senior citizens over 8% interest on 5-year FDs.

This is a small finance bank. People often avoid investing in these banks because they fear that if the bank closes in the future, their money will be lost. But there's no need to worry. If these banks close for any reason in the future, you can get a refund of up to Rs 5 lakh under the DICGC.

Now, let's talk about the small finance bank that's offering senior citizens over 8% returns on 5-year FDs.

Where can you find returns above 8%?

According to Paisa Bazaar, Suryoday Small Finance Bank is offering the highest interest rate over 5 years. This bank is offering senior citizens a 5-year FD of 8.10%. There are also several banks offering excellent returns on 5-year FDs for senior citizens.

How much are these banks offering on 5-year FDs?
Bank Returns (5-Year FD)
AU Small Finance Bank 7.25
Equitas Small Finance Bank 7.50
ESAF Small Finance Bank 6.25
Jana Small Finance Bank 8.00
Shivalik Small Finance Bank 7.00
Slice Small Finance Bank 7.25
Suryoday Small Finance Bank 8.10
Ujjjivan Small Finance Bank 7.70
Utkarsh Small Finance Bank 7.75
Source: Paisa Bazaar

In addition to Suryoday Small Finance Bank, Jana Small Finance Bank is also offering 8% returns for senior citizens. Utkarsh Small Finance Bank is offering 7.75% interest, and Ujjjivan Small Finance Bank is offering 7.70% interest. ESAF Small Finance Bank is offering the lowest interest rate for senior citizens on 5-year FDs.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.