In India, when it comes to safe investments, Fixed Deposits (FDs) are often the first choice for people. However, in recent months, following the Reserve Bank of India's (RBI) reduction in the repo rate, many major banks have cut interest rates on FDs by 10 to 15 basis points.
State Bank of India (SBI), HDFC Bank, ICICI Bank, Indian Bank, Bank of Baroda, and Canara Bank are among the banks in this list.
Jana Small Finance Bank: Up to 8.20 Percent Interest
Jana Small Finance Bank is currently offering the highest interest rates in the market. This bank is offering up to 8.20 percent interest on a 5-year FD. In addition, an interest rate of 7.50 percent is applicable on a 1-year FD, and 7.75 percent on a 3-year FD.
Slice Bank's Special Tenure: Benefit of 8.50 Percent
Slice Small Finance Bank has come up with a very special offer. If a customer makes an FD for 18 months and 1 day to 18 months and 2 days, they will get up to 8.50 percent interest. Besides this, returns of up to 8.25 percent can be earned on a 3-year FD and 7.75 percent on a 5-year FD.
Suryoday Small Finance Bank: Better Returns for the Long Term
If an investor wants to make an FD for a long period, Suryoday Small Finance Bank can be a good option. This bank is offering up to 8.40 percent interest on a 5-year FD. Meanwhile, the interest rate is 7.50 percent for 1 year and 8.15 percent for 3 years.
Ujjivan Bank's Interest Rates are also Excellent
Ujjivan Small Finance Bank is also offering good interest rates to its customers. The bank is offering a rate of 7.75 percent on a 2-year FD, 7.65 percent on a 1-year FD, and up to 7.20 percent on a 3 to 5-year FD.
Unity Small Finance Bank's 1001-Day Offer
Unity Bank is offering a fantastic interest rate of 7.75 percent on its 1001-day FD. In addition, the rates are 7.25 percent on 3-year and 5-year FDs, and 6.50 percent on 1-year FDs.
Utkarsh Bank is also Giving Up to 8 Percent Interest
Utkarsh Small Finance Bank is offering up to 8 percent interest on FDs of 2 to 3 years. Meanwhile, an interest rate of 6.25 percent is applicable on 1-year FDs and 7.50 percent on 5-year FDs.
Equitas Bank's Interest Rates are also Attractive
Equitas Small Finance Bank is also offering a rate of 7.60 percent on an 888-day FD. In addition, interest rates of 7.25 percent, 7 percent are being offered on 1-year, 3-year and 5-year FDs respectively.
ESAF Bank's 444-Day Offer
ESAF Small Finance Bank is also offering its customers 7.60 percent interest on a 444-day FD. In addition, interest rates of 4.75 percent, 6 percent and 5.75 percent are being offered on 1-year, 3-year and 5-year FDs respectively.
Bandhan Bank: Beneficial in the Short Term as Well
Bandhan Bank is offering 7.40 percent interest on FDs of 2 to 3 years. In addition, the interest rates are 7.25 percent on 1 and 3-year FDs and 5.85 percent on 5-year FDs.
CSB Bank: Better Interest on 13-Month FDs
CSB Bank is offering 7.40 percent interest on a 13-month FD. While rates of 5 percent, 5.75 percent, and 5.75 percent are being offered on 1-year, 3-year and 5-year FDs respectively.
DCB Bank's Offer is also Included
DCB Bank is offering an interest rate of 7.40 percent on FDs of 25 to 26 months. In addition, there is a uniform rate of 7 percent on 1, 3 and 5-year FDs.
Indian Bank has also Increased its Offer
Indian Bank is currently offering 6.90 percent interest on 444-day FDs. Meanwhile, rates of 6.10 percent, 6.25 percent and 6 percent are applicable for 1 year, 3 year and 5 year FDs respectively.
