What is the percent of interest rates on FD in the post office of India for senior citizens?

What is the percent of interest rates on FD in the post office of India for senior citizens?

The interest rate in most of the large banks range between 5%-5.5%. For senior citizens this number can increase by 0.5%, but apart from that there is not much difference.

Post Office of India provides financial services as well. FDs are investment schemes where investors put a lump sum amount and earn interest regularly. They are quite attractive for investors looking for low-risk investment options. The invested money remains intact, free from any financial and economic changes. The India Post gives 8.3% as Senior Citizen FD Rates. Post office FDs are indeed a good choice for stable returns without any risks. However, investors can also explore other financial institutions in the market.

Several Non-Banking Financial Companies (NBFCs) are now offering Fixed deposit schemes with attractive benefits and competitive interest rates. The Shriram City Union Finance, for instance, has many lucrative features. Senior Citizen FD Rates are probably the highest with Shriram City with about 9% interest and flexible tenures. Senior citizens don’t even need to step outside of their homes to open an FD account. They can open it online in just a few steps. Additionally, they can renew it online too and enjoy the interests as their money grows.