Senior citizens can secure attractive fixed deposit rates up to 7.

Senior citizens can secure attractive fixed deposit rates up to 7.5% for ten-year investments across multiple small finance banks. Equitas Small Finance Bank leads with the highest 7.5% rate, followed closely by Suryoday Small Finance Bank at 7.45%. While these rates offer promising returns, investors should be cautious and understand the associated risks. The Deposit Insurance Credit Guarantee Corporation covers deposits up to Rs 5 lakh, providing some financial protection. Tax considerations are crucial - banks deduct TDS on FD interest exceeding Rs 1 lakh, but senior citizens can submit Form 15H to avoid this deduction. Diversifying investments and staying within DICGC coverage limits can help mitigate potential risks in small finance bank investments.