- Bank fixed deposit is considered one of the safest investment method
- All banks offer higher interest rate to senior citizens
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There are many banks that offer interest rates ranging from 8% to 9.5% on fixed deposits (FDs). Term deposits or FDs are considered ideal for those who are looking at high liquidity, and cannot stomach much risk. Top lenders like State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others offer FDs ranging from 7 days to 10 years. Some Small Finance Banks are offering more than 8.5% interest to general customers, and more than 9% to senior citizen across select maturities.
