FD Rates: Fixed Deposit (FD) is a safe and reliable investment option in India. It is best for those who want to get fixed returns while avoiding risk. Currently many small finance banks offer higher interest than public and private banks. Know what is the new FD interest rate of banks
Fixed Deposit: Fixed Deposit (FD) has become a very famous investment option in India. It gives safe and reliable returns to investors. Investors who do not believe much in taking risks consider Fixed Deposit (FD) as a safe option. By depositing the amount in FD for a fixed period, you get fixed interest, which is usually higher than savings accounts. Interest rates on FD are changed from time to time by banks to attract customers. There are many banks which are offering good interest rates on FD. The interest rate on FD also depends on the tenure.
At present, many banks in India are giving more than 8% interest on FD. Small Finance Banks offer higher interest rates than public, private and foreign banks. Let’s know about the new FD rates of Small Finance Banks, Public, Private and Foreign Banks
What are the FD rates of Small Finance Banks
Small Finance Banks provide very high returns on FD to the people. Among small finance banks, Northeast Small Finance Bank offers the highest interest rate of 9% on FDs of 546 to 1111 days. At the same time, Unity Small Finance Bank is offering 9% interest on FDs of 1001 days.
Equitas Small Finance Bank: Offering an interest rate of 8.25% for a period of 888 days.
Suryodaya Small Finance Bank: Offering an interest rate of 8.60% on FDs for a period of 2 to 3 years.
Jana Small Finance Bank: Offering an interest rate of 8.25% for a period of 1 to 3 years.
Northeast Small Finance Bank: Offering an interest rate of 9.00% for a period of 546 days to 1111 days.
Unity Small Finance Bank: Offering an interest rate of 9.00% for a period of 1001 days.
Utkarsh Small Finance Bank: Offering a return of 8.50% for a period of 2 years to 3 years.
Public Sector Banks Interest Rates
Public sector banks offer low interest rates but people prefer them because they are considered reliable and stable.
Bank of Maharashtra: Offering 7.45% interest rate for tenure of 366 days.
Canara Bank: Offering 7.40% interest for tenure of 3 years to less than 5 years.
Central Bank of India: Offering 7.50% interest for tenure of 1111 or 3333 days.
Union Bank of India: Offering 7.30% interest rate for tenure of 456 days.
Indian Bank: Offering 7.30% interest rate for tenure of 400 days.
Private Sector Banks FD Rates
Private banks offer lower interest on FDs than Small Finance Banks, but their interest rates are higher than public sector banks.
Bandhan Bank: 8.05% interest rate for a period of 1 year.
ICICI Bank: 7.25% interest rate for 15 months to 2 years.
DCB Bank: 8.05% interest rate for a period of 19 months to 20 months.
HDFC Bank: 7.40% interest rate for 4 years 7 months (55 months).
IndusInd Bank: 7.99% interest rate for 1 year 5 months to less than 1 year 6 months.
RBL Bank: 8.00% interest rate for a period of up to 500 days.
IDFC First Bank: 7.90% interest rate for a period of 400 to 500 days.
FD Rates of Foreign Banks
Deutsche Bank: 8.00% interest rate for tenure of 1 year to 3 years.
Standard Chartered Bank: 7.50% interest rate for tenure of 1 year to 375 days.
HSBC Bank: 7.50% interest rate for tenure of 601 to 699 days.
