New Delhi, June 20 -- Bank fixed deposits (FDs) are among the safest investment tools in India for short-, medium- and long-term savings. They are also the preferred option for conservative investors, such as senior citizens, who seek government-secured and consistent returns.

When it comes to FDs or even recurring deposits, the rate of interest for the investment is usually higher than returns given for simply parking your corpus in a savings account. It thus makes sense to allocate a lumpsum amount to a financial institution for a fixed period of time and for a fixed rate of interest.

Comparing rates in June 2026, most banks are offering senior citizens higher interest rates on mid- to long-term deposits. When it comes to the below 60...