Fix deposit is among the most trusted investment policies for long terms. Most popular among the elder generations, the deposits are most secure and easily manageable through banks and post offices. Although the interest rates in fixed deposits have lowered in the past decade there are schemes offered by both the public sector and private banks which offer a handsome return over up to 8.5 per cent for senior citizens.
FDs are most preferred for the senior citizens because most of the banks offer them 0.5 per cent higher interest that general deposit holders.
List of public sector banks with higher interest
| Bank | Highest interest | Tenure |
| Bank of Baroda | 7.80 | 400 days |
| Bank of India | 7.80 | 400 days |
| Bank of Maharashtra | 7.85 | 333 days |
| Central Bank of India | 795 | 444 days |
| Canara Bank | 7.9 | Between 3 to 5 years |
| Indian Bank | 7.80 | 1 year to 375 days |
| Punjab National Bank | 7.75 | 400 days |
| Indian Overseas Bank | 7.80 | 444 days |
| Punjab & Sind Bank | 7.95 | 555 days |
| State Bank of India | 7.75 | 444 days |
| UCO Bank | 7.55 | 444 days |
| Union Bank of India | 7.80 | 456 |
List of private sector banks with higher interest
| Bank | Higher interest | Tenure |
| Axis Bank | 7.75 | 15 days to less than 2 years |
| Bandhan Bank | 8.55 | 1 year |
| City Union Bank | 8.00 | 333 days |
| DBS Bank | 8.00 | 376 to 540 days |
| DCB Bank | 8.55 | 19 months to 20 months |
| Federal Bank | 7.90 | 55 months, 777 days |
| HDFC Bank | 7.90 | 55 months |
| ICICI Bank | 7.80 | Between 15 to 18 months |
| IDFC First Bank | 8.40 | 400-500 days |
| IndusInd Bank | 8.49 | 1 year 5 months to 1 year 6 months |
| J&K Bank | 7.50 | 1 year to less than 3 years |
| Karnataka Bank | 8.00 | 375 days |
| Kotak Mahindra | 7.90 | 390 days to less than 23 months |
| Karur Vysya Bank | 8.10 | 760 days |
| RBL Bank | 8.50 | 500 days |
| SBM Bank | 8.75 | Between 18 months and 2 year 3 days |
| South Indian Bank | 7.90 | 1 year 7 days |
| YES Bank | 8.25 | 18 months to less than 24 m0nths |
