Which bank gives highest interest rate on FD (Fixed Deposit)
Which bank gives highest interest rate on FD?
Which bank gives highest interest rate on FD ? Fixed Deposits (FDs) are like a go to savings plan in India. You put your money in and it grows over time. It’s kind of like the saying, ‘out of sight, out of mind’ when you put away money for savings, you are more likely to keep it safe. Also if you want a safer way to saving with some income than FD is a great choice.
If you are looking to make some decent money down the road then fixed deposit is a safe idea. Many people still swear by them because they offer guaranteed returns after a set period. It’s like putting your money to work without any worries.
Banks are not the only ones offering good interest rates on fixed deposits. Non-Banking Financial Companies (NBFCs) also jump in with some attractive deals. Let’s check out three NBFCs offering over 9% interest to their customers on fixed deposits.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is giving regular customers a 9.10% interest rate on a 5 year fixed deposit. But if you are a senior citizen then you get an even better deal that is 9.60% interest for the same 5 year fixed deposit.
Unity Small Finance Bank
Unity Small Finance Bank is giving regular customers a 9% interest rate for a fixed deposit lasting 1001 days. But for the seniors they are offering a deal of 9.50% interest for the same period.
Fincare Small Finance Bank
Fincare Small Finance Bank is offering regular customers an 8.51% interest rate for a 1000 day fixed deposit. But if you are a senior citizen then they are bumping it up to 9.11%.
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Which bank gives highest interest rate on FD?
5 banks offering highest interest on 3 year FD
Which bank gives highest interest rate on FD ? Just like we talked about earlier, Fixed Deposits (FDs) are still one of the best ways to earn a secure income in India. They promise a guaranteed income after a set period which is pretty reassuring. Nowadays, a lot of banks are offering really good interest rates on 3 year fixed deposits making them even more popular. Let’s take a look at five banks offering up to 8.60% interest to their customers on 3 year fixed deposits.
SBM Bank
SBM Bank is giving regular customers an 8.10% interest rate for a 3 year fixed deposit. But if you’re a senior citizen, they’re upping the stake with an 8.60% interest rate for a 3 year fixed deposit.
DCB Bank
DCB Bank is offering regular customers a maximum of 8% interest on a 3 year fixed deposit. But if you are a senior citizen then they are bumping it up to 8.50%.
YES Bank
YES Bank is offering regular customers a 7.75% interest rate for a 3 year fixed deposit. But for senior citizens they are offering a better deal for 8.25.
Deutsche Bank
Deutsche Bank is giving both regular customers and senior citizens the same deal of 7.75% interest rate for a 3 year fixed deposit. So, whether you are a regular customer or a senior you will get the same rate at Deutsche Bank.
Indusind Bank
Indusind Bank is giving regular customers a 7.50% interest rate for a 3 year fixed deposit. But if you are a senior citizen then they are offering up to 8%.
Conclusion:
Fixed Deposits are still a solid way to make money safely in India. We have seen that some banks give better deals to seniors which are nice. Whether you are young or old it’s worth checking out your options before you decide where to put your money.
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