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Senior citizen FD rates: Suryoday Bank offers 8.6% on five-year deposits; compare rates at SBI, HDFC Bank and others
Reported by: Livemint ·
Summary
Livemint reported that Suryoday Small Finance Bank offers senior citizens 8.6% on five-year fixed deposits, the highest rate in its comparison of banks. Jana and DCB Bank come next at 8%, and the report compares these rates with those at SBI, HDFC Bank and other banks. A fixed deposit is money kept with a bank for a fixed term at a fixed interest rate, paid back with interest at the end. The rate quoted is the yearly interest the bank pays on the deposit, and senior citizens often get a higher rate than other customers. The report gives no other figures beyond these rates. This is a comparison of deposit rates, not a view on any bank's shares.
AI summary of what Livemint reported. AI can make mistakes. Read the full story on Livemint
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Livemint · · Tone 0
Senior citizen FD rates: Suryoday Bank offers 8.6% on five-year deposits; compare rates at SBI, HDFC Bank and others
Senior citizens can earn up to 8.6% on five-year FDs. Suryoday Small Finance Bank offers the highest rate, followed by Jana and DCB Bank at 8%. Here is a comparison of FD rates across small finance, private and public…
Some headlines quote an analyst. Those views are theirs, not ours.
Key terms
Words in this story, explained in plain language in our Learn pages.
- FD
Fixed deposits and bonds pay interest instead of ownership. Learn how they work, what credit ratings mean, why bond prices move, and what DICGC insurance covers.
Learn: Bonds and fixed deposits
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- What happened here, in simple words? Senior citizen FD rates: Suryoday Bank offers 8.6% on five-year deposits; compare rates at SBI, HDFC Bank and others
- Where do the outlets differ in how they report this? Senior citizen FD rates: Suryoday Bank offers 8.6% on five-year deposits; compare rates at SBI, HDFC Bank and others
- What does "FD" mean?