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Senior Citizens Fixed Deposit Interest Rates in North East Small Finance Bank

Updated 19 Dec 2023

North East Small Finance Bank has been a trusted financial partner for many over the years. The bank recognizes the importance of the financial stability of senior citizens and, as a result, has curated FD schemes specifically tailored for them. These FD schemes offer higher interest rates to senior citizens compared to the regular public. Dive in to see how the bank ensures better financial returns for senior citizens.

Features of North East Small Finance Bank Senior Citizen FD

  • Enhanced Interest Rates: Senior citizens typically receive a bonus interest rate on top of the regular FD rates. The specific rate is determined by the bank's current offerings.
  • Qualification: Only individuals who are 60 or older are eligible to open a senior citizen FD account.
  • Duration: Depositors have the flexibility to choose from a wide range of FD tenures, spanning from as short as 7 days to as long as 10 years.
  • Early Withdrawal: While penalties might be levied for early withdrawals, senior citizens often get relatively lenient terms when they opt for premature FD closures.
  • Borrowing Options: Similar to other depositors, senior citizens too can avail loans against their FDs.
  • Beneficiary Assignment: In the unfortunate event of the account holder's demise, the bank permits a beneficiary to inherit the funds stored in the FD.
  • Tax Deduction at Source (TDS) Implications: Interest earnings from FDs are subject to taxation as per Indian regulations. However, eligible senior citizens can bypass TDS deductions by duly submitting Form 15H.
  • Automatic Renewal: Several banks, possibly including North East Small Finance Bank, might offer an auto-renewal feature, ensuring the FD continues beyond its maturity unless otherwise specified by the depositor.
  • Deposit Limits: The amount that can be deposited in a senior citizen FD may vary. Generally, there's a minimum deposit requirement, while the maximum limit might be open-ended.
  • Unique Offerings: From time to time, the bank may introduce exclusive offers or features specifically curated for its senior citizen clientele.

North East Small Finance Bank FD Interest Rate for Senior Citizens

TenureSenior Citizen FD Rate
7 days - 29 days3.75%
30 days - 1 month 14 days4.30%
1 month 15 days - 2 months 29 days5.30%
2 months 30 days - 5 months 27 days5.50%
5 months 28 days - 11 months 30 days7.30%
1 year - 1 year 6 months 4 days8.00%
1 year 6 months 5 days - 1 year 6 months 5 days9.25%
1 year 6 months 6 days - 2 years 11 months 30 days8.00%
3 years - 3 years 14 days7.30%
3 years 15 days - 3 years 15 days9.25%
3 years 16 days - 4 years 11 months 29 days7.30%
4 years 11 months 30 days - 9 years 11 months 28 days7.00%

Note: All interest rates shown above are as on 4th Aug 2023


  • Only individuals aged 60 or above are eligible to open a senior citizen FD with North East Small Finance Bank.
  • The "Senior Care FD" offers an additional 0.75% interest rate.
  • The "Senior Care FD" scheme is valid for a specified duration, which may be subject to changes.

Documents Required to Open a North East Small Finance Bank Fixed Deposit for Senior Citizens

Identity Proof

  • Aadhaar card
  • Voter ID
  • Ration card
  • Passport
  • PAN card
  • Driving Licence


Address Proof

  • Bank Statement
  • Cancelled Cheque
  • Utility Bills


Is there a special scheme for senior citizens?

Yes, North East Small Finance Bank offers the 'Senior Citizen Care' FD, which provides additional benefits compared to the regular FD.

Can I break my Senior Citizen FD prematurely?

Yes, but this might result in a penalty. It's advised to check with the bank for exact details.

Is TDS applicable on the interest earned from the Senior Citizen FD?

Yes, TDS will be deducted if the total interest earned surpasses the threshold set by the Income Tax department in a financial year.


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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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