For senior citizens seeking consistent returns, fixed deposits present an appealing option. Notably, Axis Bank currently leads the market with a striking interest rate of 7.25% for a five-year term. A Rs 5 lakh investment could mature to around Rs 7.16 lakh after five years. Other prominent banks such as SBI and ICICI Bank also offer competitive rates, while HDFC Bank comes in with the lowest among these institutions.
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