As the name suggests, Fixed Deposits offer fixed interest rate to its investors and provide capital protection to their hard-earned money. Which makes FD one of the best investment plans for senior citizens in India.  EldersWealth, one of the renowned financial service providers in Bangalore, presents a wide range of options to select from. The guaranteed returns and capital safety are one of the main reasons why senior citizens prefer to invest in fixed deposits especially as a source of their retirement income. Moreover, opening a FD account is very simple and it can be done online via net banking through any bank or Non-Banking Financial Companies.

Fixed Deposit Interest Rates for Senior Citizens are usually slightly higher (00.50% to 00.65%) than interest rates offered to those whose age is below 60. It is mandatory for senior citizens to share their age proof to be eligible for higher rates on Senior Citizens FD. Highest Fixed Deposit Interest Rates for Senior Citizens as on April 2021 is at 7.50% for 36 Months to 3 Years to 10 Years. Here are some of the features of senior citizen FDs

• Flexible tenure on senior citizens FD between 7 days to 10 years (in most banks).
• Loans against FDs are available on senior citizen FD.
• Premature withdrawal of senior citizens FDs is subject to penalties 

In addition, senior citizens also have a privilege to choose the frequency of interest pay outs. EldersWealth is an online platform which can help senior citizens select the most suitable fixed deposit option for their financial needs. Our team of financial experts is always ready to assist senior citizens take the most prudent investment decisions. Along with traditional fixed deposits, EldersWealth also provides other investment instruments such as RBI bonds, AIFs, PMS and mutual funds. 

Although Fixed Deposit Interest Rates for Senior Citizens are relatively higher, there are two key elements which affect the FD rates. Factors such as:

• Deposit Amount: Fixed Deposit Interest Rates for Senior Citizens depends on the deposit amount. Meaning, banks usually offer lower interest rate if the deposit amount is more than ₹ 1 crore and higher rate if the amount is less than ₹ 1 crore. 
• Deposit Tenure: Similarly, the banks offer lower rate of interest for a shorter tenure FD and vice versa. 

It is important to choose an investment avenue after thorough understanding of that particular product. We believe it is essential to make any investment after consulting a financial expert as it involves investment of your hard earned money and life savings. EldersWealth has been assisting a lot of senior citizens across India make such comprehensive investments over the years. Since Fixed Deposit Interest Rates for Senior Citizens are relatively higher, we try to provide golden agers the most suitable options across this avenue. 

EldersWealth, being one of the most reliable senior citizen wealth managers in Bangalore, can provide necessary assistance and offer Best Investment Options for Senior Citizens.