FD Rates: These banks are giving annual returns up to 9% on FD of 3 years, check the list for good earnings.

Highest Interest Rates on Fixed Deposit: Fixed Deposit (FD) is a safe and stable investment option that can help you earn good returns on your savings. These days banks are offering FD options ranging from 7 days to 10 years to their customers. Your money remains safe in FD and returns are guaranteed at a fixed rate for a fixed period. Apart from this, the money kept in FD is not affected by market fluctuations. FD is a popular option among investors due to its safe investment and guaranteed returns.

For investors who want to keep the money kept at home safe and want better returns, blocking money in a 3-year FD can prove to be a good option for investors compared to other tenure options. These days banks are offering returns of up to 9 percent per annum on three-year FDs. If you want to earn well by investing your hard earned money in a 3 year FD, then you can take a look at the list of banks here.

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Where is 3 year FD getting highest interest?

Many banks are offering better returns to their general customers on three year FD. These banks include banks ranging from private to small finance. Let us know one by one about these major banks which are offering good earning opportunity on FD.

Union Bank of India

Union Bank is offering interest rate of 6.7 percent per annum to its general customers on 3 year FD. If an investor blocks his Rs 1 lakh in the bank’s FD scheme for 3 years, then he will get Rs 1,21,341 on maturity.

State Bank of India

In the country’s largest government bank SBI, 3 year FD is available at the rate of 6.75 percent per annum. If an investor blocks his Rs 1 lakh in the FD scheme of this government bank for 3 years, then on maturity he will get Rs 1,22,239.

Punjab National Bank

Punjab National Bank is offering returns at the rate of 7 percent per annum to its general customers on FD of the same tenure. By blocking Rs 1 lakh for 3 years in the FD scheme of this bank, the investor will get Rs 1,23,144 on maturity.

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Bank of Baroda

Bank of Baroda is giving 7.15 percent annual return on 3 year FD. Block your savings of Rs 1 lakh in this government bank for 3 years By doing this, common investors will get Rs 1,23,690 on maturity.

Canara Bank

Canara Bank is offering 7.4 percent annual rate of return on 3 year FD to its general customers. In this, by keeping Rs 1 lakh for 3 years, investors will get Rs 1,24,604 on maturity.

HDFC Bank, ICICI Bank and Kotak Mahindra Bank

In all the three leading private sector banks, common customers are getting returns at the rate of 7 percent on 3-year FDs. By blocking Rs 1 lakh in these banks for 3 years, investors will be able to get Rs 1,23,144 on maturity.

Axis Bank

The annual interest rate on Axis Bank 3 year FD is said to be 7.1 percent. According to this, if an investor blocks Rs 1 lakh in this bank for 3 years, then he will get Rs 1,23,508 on maturity.

Yes Bank

In this bank, general customers are getting interest at the rate of 7.25 percent per annum on FD of 3 years. According to this, if a person keeps Rs 1 lakh in a bank’s FD for 3 years, then he will get Rs 1,24,055 on maturity.

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Unity Small Finance Bank

Compared to government and private banks, small finance banks offer higher returns on FD to their customers. The first name in this list is that of Unity Small Finance Bank. This bank is offering 8.15 percent annual rate of return on 3 year FD to its general customers. If someone keeps Rs 1 lakh in the FD scheme of this bank for 3 years, then he will get Rs 1,27,385 on maturity.

Jana Small Finance Bank

Jana Small Finance Bank is giving 8.25 percent annual return on 3 year FD. If an investor keeps Rs 1 lakh in the FD scheme of this bank for 3 years, then he will get Rs 1,27,760 lakh on maturity.

Utkarsh Small Finance Bank

This small finance bank is offering returns of 8.5 percent per annum on 3-year FD to its general customers. If an investor invests his savings of Rs 1 lakh in the bank’s FD scheme, he will get Rs 1,28,702 on maturity.

Suryoday Small Finance Bank

This bank is offering 8.6% annual interest rate on 3 year FD. If a common customer keeps Rs 1 lakh in a bank’s FD for 3 years, he will get Rs 1,29,080 on maturity.

NorthEast Small Finance Bank

In this list of banks, the name of Northeast Small Finance Bank is last. This bank is offering the highest return of 9 percent per annum on 3 year FD to its general customers. In this, by blocking Rs 1 lakh for 3 years, investors will be able to get Rs 1,30,605 on maturity.

Even more interest for senior citizens

The banks whose FD rates we have mentioned here are offering higher returns to their senior citizens on FDs of the same tenure as compared to the common people. Banks usually offer 0.50 percent more interest on senior citizen FD as compared to common people. You can check the 3 year senior citizen FD rates offered by these banks here.

,Note : This list has been prepared by Paisa Bazaar.com. Keep in mind that banks keep changing their rates from time to time, hence before investing money in any bank FD, investors should confirm the exact information about the rates from the concerned bank branch or its official website.

Know this also

You can also avail the benefit of tax exemption by investing money in FD in the name of elders in the house. Senior citizens above 60 years of age can avail tax deduction up to Rs 1.50 lakh on investment in FD under Section 80C of Income Tax. However, this discount is available only on those FDs whose lock-in period is 5 years.