FD rate up to 8% for senior citizens investing for three years; Know list of banks - The Economic Times
Senior citizens can now earn up to 8% interest on fixed deposits for a three-year term with select small finance banks. While deposits are insured up to Rs 5 lakh, experts advise caution and limiting exposure. Banks will deduct TDS if FD interest exceeds Rs 1 lakh annually, but eligible individuals can avoid this by submitting Form 15H.