🔥 Senior Citizen FD Rates
Published by OOPSONLINE.IN · Source: Business Today · 1 min read · · Updated
What actually happened
Senior citizens can now earn up to 7.20% a year on fixed deposits with Federal Bank, while HDFC Bank has raised its rate to 7.10% for a select tenure. However, before breaking an existing FD to chase a higher rate, investors should weigh premature withdrawal penalties, taxes and the remaining tenure.
Key points
- Senior citizens can now earn up to 7.
- 20% a year on fixed deposits with Federal Bank, while HDFC Bank has raised its rate to 7.
- 10% for a select tenure.
- However, before breaking an existing FD to chase a higher rate, investors should weigh premature withdrawal penalties, taxes and the remaining tenure.
Summary based on data provided by Business Today. Full article available at the original publisher.
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