Fixed deposits remain a favored investment choice even today, with many individuals opting to invest in them. The main appeal lies in the assured returns they provide. Currently, fixed deposits can yield interest rates of up to 9 percent.
Where can you find the highest FD interest rates?
Fixed deposits are viewed as secure investments, which is why they continue to be popular. Banks frequently adjust their FD rates to attract more customers. Let’s explore where you can find the best interest rates on fixed deposits.
Which small finance banks offer the best interest rates?
Starting with small finance banks, North East Small Finance Bank is providing an impressive 9 percent interest on FDs with maturities ranging from 546 to 1111 days. Meanwhile, Unity Small Finance Bank offers up to 8.25 percent interest for terms of 1 to 3 years. Jana Small Finance Bank also provides 8.25 percent interest for the same duration, while Equitas Small Finance Bank offers 8.60 percent for FDs maturing in 2 to 3 years.
Other banks with attractive FD interest rates
Suryoday Small Finance Bank is offering up to 8.60 percent interest on FDs maturing in 2 to 3 years. AU Small Finance Bank provides an interest rate of up to 8 percent for an 18-month FD. Ujjivan Small Finance Bank offers 8.25 percent on a 12-month FD, and ESAF Small Finance Bank gives 8.25 percent on FDs with terms between 2 and 3 years.
Private banks also offer competitive FD interest rates
In the private sector, Bandhan Bank offers 8.05 percent interest on a 1-year FD. DCB Bank matches this rate for FDs with terms of 19 to 20 months. RBL Bank provides 8 percent interest on a 500-day FD, while IDFC First Bank offers 7.90 percent for FDs ranging from 400 to 500 days.
What’s the status of the public sector bank?
The bank has set an interest rate of 7.40% for fixed deposits that mature in 3 to less than 5 years. Indian Bank is providing a 7.30% interest rate for a 400-day FD, while State Bank of India is offering 7.25% for a 444-day FD.
ICICI Bank is also offering a 7.25% interest rate
IndusInd Bank stands out with a 7.99% interest rate on FDs maturing in 1 year and 5 months to less than 6 months. HDFC Bank is matching the 7.40% interest rate for a 55-month FD, and ICICI Bank again offers 7.25% for FDs maturing in 15 months to 2 years.
