Fixed Deposit Alert, Important Changes in 2025 Interest Rates You Must Know

Fixed Deposit: Nowadays, everyone is looking for the right and safe investment to secure their future. In such a situation, Fixed Deposit (FD) is considered the most reliable option because investing in it gives fixed interest, and the money is safe.

What will be the impact on senior citizens

This change is even more challenging for senior citizens. Earlier, they used to get 4 to 7.5 per cent interest, but now they will get only 7.3 percent interest on FDs of 5 to 10 years. Interest rates have also been reduced in SBI’s special scheme ‘Amrit Varsha’. Interest rates for super senior citizens have also come down to 7.45 percent. This reduction will especially affect those elderly people who depend on interest income from FD for their monthly needs.

Fixed Deposit: interest rates of other banks

Apart from SBI, HDFC Bank, ICICI Bank and Axis Bank have also reduced their FD interest rates. Now general customers will get 3 to 7.1 percent interest and senior citizens will get 3.5 to 7.55 percent interest. This change is the result of the ongoing economic uncertainty in the market and repo rate cut.

Keep these things in mind while investing

While investing in an FD, it is important to understand that the reduction in interest rates may affect your income. Especially senior citizens may have to reconsider their financial planning due to this change. Therefore, it will be beneficial for you to understand all the options carefully before investing and make a decision only after getting the right information.

Disclaimer: This article is written for general information and education purposes only. Do not consider the information given in it as investment advice. Please consult your financial advisor before investing.

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