Besides, the savings are also useful to build an emergency corpus. Senior citizens generally invest a part of their savings in FDs, which offer liquidity and ensure interest income periodically. Most of the popular banks including the State Bank of India (SBI), ICICI Bank and HDFC Bank offer special fixed deposit schemes, especially for senior citizen depositors. Several banks have hiked their fixed deposit (FD) interest rates in the last few banks. 05% in case of deposit placed/renewed through online.
