Senior Citizens: Earn Up To 8% FD Interest! Check Best Small Finance Bank Rates Now.

• Senior citizens can secure up to 8% interest on fixed deposits with small finance banks for a five-year term, capped at Rs 3 crore.
• ESAF Small Finance Bank offers the highest rate of 8.10% for senior citizens on a 444-day deposit.
• Jana Small Finance Bank and Utkarsh Small Finance Bank provide 8% interest for 3-year FDs, while Ujjivan Small Finance Bank offers 7.75% for 1-year FDs.
• Deposits with small finance banks are covered by DICGC up to Rs 5 lakh, but experts advise caution due to their distinct risk profiles.
• Overall FD rates have declined due to the RBI's cumulative 1.25 percentage point reduction in the repo rate over the past year.

Why It Matters: Small finance banks offer senior citizens up to 8% FD interest, but caution is advised despite DICGC cover.