π¦ Banks hike FD rates for seniors, check out the numbers π°
HDFC Bank and Federal Bank have increased their Fixed Deposit rates for senior citizens. Federal Bank's new rates took effect on August 17, while HDFC Bank's changes started on August 19. Federal Bank offers up to 7.20% on a 48-month deposit, and HDFC Bank reached 7.10% for specific tenures. These hikes are important for seniors relying on FDs for steady income and capital safety. Investors should still compare rates considering taxes and withdrawal penalties before switching.