Now Reading: Shivalik Small Finance Bank leads senior citizen FD at 8.50%
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Shivalik Small Finance Bank leads senior citizen FD at 8.50%
Shivalik Small Finance Bank is offering senior citizens up to 8.50% on fixed deposits for tenures of 23 months and one day to 27 months in August 2026, the highest among listed…
The Story in Brief
Shivalik Small Finance Bank is offering senior citizens up to 8.50% on fixed deposits for tenures of 23 months and one day to 27 months in August 2026, the highest among listed banks. Jana Small Finance Bank and Unity Small Finance Bank follow with 8.30%, while Suryoday and Utkarsh offer 8.25%. Large banks like SBI (6.90%), HDFC Bank (7.00%) and ICICI Bank (7.10%) lag behind.
Small finance banks are regulated by the RBI and deposits up to Rs 5 lakh per depositor per bank are covered by DICGC insurance. Business Today advises seniors to check the bank's financial health, premature withdrawal terms, and tax implications before choosing, as the highest rate may not suit everyone.
The Indian Opinion
The 8.50% rate from Shivalik Small Finance Bank will tempt many, but the usual narratives miss the real point. One camp calls small finance banks risky, yet they are RBI-regulated and DICGC-insured up to Rs 5 lakh. Another insists seniors should always chase the highest rate, ignoring liquidity and tenure mismatches. The real test is simple: does your deposit exceed the insurance cover? If yes, the extra 1.5 percentage points over SBI may not be worth the sleepless nights.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
