At present, there are many people who need saving for a promising future. Hence, investment is the best option for it. That is why everyone is suggested to invest a certain amount of his income. The greatest thing about investment is that it makes the future needs easy to fulfill and convenient to access.
Now, there is no one but many options of investment in the market. However, in this link, you also have a fright of risk in some options. Therefore, you must know that FD is regarded as the best and safest option among the other investment options. More than this, it gives more interest to senior citizens for FD than to normal people.
Bank of Baroda
Bank of Baroda is a public sector state-owned bank in India. It is the second largest public sector bank in India after State Bank of India. This institute pays interest at 7.75 percent on three-year FD. It gives the highest interest to senior citizens on FD. In fact, 26,000 will be paid as interest by a senior citizen on the investment of a lakh of rupees.
Axis Bank
Axis Bank is one of the third largest and best private banks among Indian banks in view of its huge clientele. This bank pays 7.60 percent interest on FD to seniors. A deposit of rupees one lakh for terms of three years will amount to Rs 1.25 lakh.
Punjab National Bank
Punjab National Bank is a well known and old bank of the nation. This is a scheduled bank. The fact that Punjab National Bank gives 7.50 percent returns to senior citizens on three years FD encourages us to say that after three years, the amount will grow to about Rs 1.25 lakh.
ICICI Bank and HDFC Bank –
Similar offers are made by both ICICI Bank and HDFC Bank for senior citizens at the rate of 7.50 percent on FD for a period of 3 years. In other words, if a senior citizen takes an FD of Rs 1 lakh for three years, after maturity, he or she will receive a total sum of Rs 1.25 lakh.
