After four consecutive repo rate hikes by the Reserve Bank of India (RBI) from May 2022, which gave rise to escalating FD interest rates, fixed deposits have regained popularity among retail investors, particularly older individuals. Investors may now produce returns that outpace inflation amid rising interest rates. Consumer Price Index (CPI) data for India show that retail price inflation fell to 6.77 per cent in October 2022 from a five-month high of 7.41 per cent in September. Investing in instruments with returns that are higher than inflation rates will help you earn real returns rather than seeing your investment forfeit value. Amid the rising interest rates, some small finance and private sector banks are now promising inflation-beating returns for senior citizens in the long term. In light of this, we have compiled 7 small finance banks here that provide elderly residents with the highest returns on FDs, ranging from 8.50% to 9%.