Unlock Higher Returns: Senior Citizen Recurring Deposit Interest Rates Soar Close to 10%

Rate increase on recurring deposits in 2023: In the new repo rate system overseen by the (RBI)

Interest rates on recurring deposits in banks have also increased to around 10%

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have climbed in the past year, even though the repo rate has risen from 4.4% in May 2022 to 6.5% today.

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In most circumstances, the interest rates for recurring deposits and fixed deposits are the same.

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Suryoday Small Finance Bank (SSFB) offered a nearly 10% interest rate on 5-year FD/RDs for elderly

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which is 9.6%. Senior folks can also receive 9.5% FD/RD interest from the Unity Small Finance Bank

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The highest FD/RD interest rate for regular citizens is interesting.

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A monthly RD of Rs 5000 by a senior citizen in this bank will grow to approx. Rs 3.85 lakh in 5 years

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