Best FD Rates in India for Senior Citizens in 2019

Bajaj FInance FD Rates in India

A fixed deposit is an investment option that serves both short and long-term financial goals equally effectively. Issuers allow you to invest as a regular or senior citizen, however, as a senior citizen investor, you typically get access to a higher interest rate. This allows you to protect the wealth you’ve built over a long career and reap substantial returns too. However, before investing, inquire about the particulars such as the fixed deposit maximum amount. This will help you know whether you can park all your funds in one FD or whether you have to split it into multiple deposits.

Most importantly, to get the best returns from your investment it’s crucial that you pick an issuer that offers the highest interest rate. As the evaluation process can be tedious and time-consuming, here is a look at interest rates of a few financial institutions so that you can easily identify the best FD rates in India for senior citizens.

Best FD Rates in India for senior citizens for a tenor of 36 months

Financial institution

Interest rate

Bajaj Finance








Axis Bank


Kotak Mahindra




Canara Bank


As you’ll notice, the Bajaj Finance Fixed Deposit for Senior Citizens is at the top of the charts as it offers the highest interest rate, 8.95%. Do remember that this is for an investment made for 36 months or more, where the interest is payable at maturity.

The Benefits of investing in a Bajaj Finance Fixed Deposit for Senior Citizens

The Bajaj Finance FD for Senior Citizens is proof that you can earn ample returns without taking on any risk even after retirement, and meet all your needs with ease. For instance, when you invest Rs.5 lakh for a tenor of 36 months at 8.95%, you earn Rs.1.46 lakh as interest bringing your total at maturity to Rs.6.46 lakh.

These interest gains are all thanks to the power of compounding interest and if you opt to reinvest at maturity, you benefit from an additional 0.10% interest. It is also fairly easy to reinvest in this FD as Bajaj Finance offers an auto-renewal facility that saves you the hassle of filling new forms. That said, Bajaj Finance also allows you to opt for interest payouts at regular intervals to serve as a substitute for your salary once you retire. You can choose to receive payouts on a monthly, quarterly, bi-annual and annual basis. 

In addition to these features, this FD boasts of the highest security ratings from ICRA and CRISIL, indicating that it is extremely safe. Moreover, Bajaj Finance allows you to track your investment online in a convenient manner. You can even apply online by filling an application form. Once you submit it, simply wait for a representative to contact you and guide you through the process.

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