Highest Interest rates on Bank FD:After March 2020, the US Central Bank Federal Reserve recently reduced the interest rate by 50 basis points i.e. 0.5 percent. Earlier, Bank of England, European Central Bank and Canada Central Bank had announced to reduce interest rates. After the Federal Reserve cut interest rates on September 18 this month, the question is being raised among Indian investors whether the Reserve Bank of India (RBI) will also do the same soon? The next Monetary Policy Committee (MPC) review meeting of RBI is to be held between 7 to 9 October. If the committee decides to reduce the repo rate in its upcoming meeting, then there will be a reduction in bank FD rates of different tenures. In such a situation, the profits investors get on bank FD will also reduce.
Before the upcoming review meeting of the Monetary Policy Committee (MPC), investors have a chance to get better returns on FDs. At present, there are at least 8 such small finance banks, in which maximum interest is available at 9 to 9.50 percent. These days, investors thinking of investing their savings in FD can check the list of banks here.
Also read: Will the new interest rates be applicable on these small savings schemes including PPF, SSY, SCSS, NSC from October? Updates till now
AU Small Finance Bank
AU Small Finance Bank is giving 8 percent interest on 18 months FD to its general customers. To senior citizens on FD with same tenure in the bank8.5 Interest is being received.
Equitas Small Finance Bank
Common people are getting interest at the rate of 8.5 percent on 444 days FD of Equitos Small Finance Bank. 9 to senior citizens on FD with same tenure in the bank Getting interest.
ESAF Small Finance Bank
In this small finance bank, common people are getting interest at the rate of 8.25 percent on FD for 2 to 3 years. To senior citizens on FD with same tenure in bankGetting 8.75 interest.
Also read: SSY Vs PPF: If you have to invest in both the schemes for 15 years, if you deposit Rs 1.50 lakh annually then where is the more profit? Choose the perfect scheme after looking at the calculations
Jana Small Finance
Common people are getting interest at the rate of 8.25 percent on FD of Jana Small Finance Bank for 365 to 1095 days. Senior citizens are getting 8.75 interest on FD with the same tenure in the bank.
Ujjivan Small Finance Bank
12 months in this small finance bankCommon people are getting interest at the rate of 8.25 percent on FD. Senior citizens are getting 8.75 interest on FD with the same tenure in the bank.
Utkarsh Small Finance Bank
This small finance bankIt is offering interest at the rate of 8.5 percent to common customers on FDs of 2 to 3 years. Senior citizens are getting 9.1% interest on FD with the same tenure in the bank.
Also read : Micro SIP: What is Micro SIP? A big corpus can be created even with a monthly investment of just Rs 100, full details
Suryoday Small Finance Bank
This small finance bankIt is giving interest at the rate of 8.65 percent to common customers on FD of 2 years and 2 days. Senior citizens are getting 9.1% interest on FD with the same tenure in the bank. This is the interest rate on FD of 1500 days also.
Unity Small Finance Bank
This small finance bankIt is giving interest at the rate of 9 percent to common customers on FD of 1001 days. Senior citizens are getting 9.5% interest on FD with the same tenure in the bank.
NorthEast Small Finance Bank
546 to 1111 days in this small finance bankCommon customers are getting interest at the rate of 9 percent on FD. Senior citizens are getting 9.5% interest on FD with the same tenure in the bank.
