New Delhi, June 10 -- Once you turn sixty the focus shifts towards security, sensible investments and post retirement life. Fixed deposits (FDs) can be the perfect answer to all of the above questions. Especially for senior citizens who are looking to start a new life after completing their working careers.

FDs are nothing but government backed instruments that provide guaranteed returns and the additional interest for senior citizens. This additional premium can be around 0.50% to 0.75% for senior citizens and makes this investment product even more lucrative.

As interest rates remain dynamic amid monetary policy changes, some public sector banks are offering senior FD rates close to 8% per annum, especially on mid-term tenures ranging...