Fixed Deposits (FDs) are generally for senior citizens, so they are also known as a traditional investing instrument.
Unlike investment that is subject to market risk such as mutual funds, bank deposits offer a fixed rate of returns that are less risky. In market-linked products, the returns are not certain and are based on the market condition.

Senior citizens can choose to invest in bank deposit with 50 basis points (bps) that are exclusively designed for them. I would recommend investing for long term i.e 7 days to 10 years. Also, do not perry of premature withdrawal of FD. One can withdraw by paying certain charges to the bank. The penalty charged varies from bank to bank.

Below are some bank that I know about their special interest rate to senior citizen (average tenure- 1- 10 years) ;
RBL Bank- Bank FD rate ranges from 5.50% to 8.25%.
Bandhan Bank- Bank FD rate ranges from 4.25% to 8.10%,
IDFC First Bank- Bank FD rate ranges from 4.50% to 8.50%.