Highest FD Rates:Fixed Deposit or FD is one of the most popular options for investment. In this, the money of the investors remains safe. Also, one gets the benefit of guaranteed returns. If you are planning to invest in bank FD considering the guarantee of better returns along with security, then this news is useful for you.
Banks provide FD schemes of different tenures to their customers. Investors can lock their money in bank FD for a period ranging from a week to 10 years. If you want to earn good money by keeping your hard-earned money in bank FD for 1 year, then you can check the list of banks here.
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Where is the highest return available on one year FD
According to the list of banks and small finance banks prepared by Paisa Bazaar.com, the highest return of 8.25 percent on one-year bank FDs is being given by Ujjivan Small Finance Bank and Jan Small Finance. Equitas Small Finance Bank, included in the list, is giving interest at the rate of 8.2 percent on FDs. Similarly, Utkarsh Small Finance Bank is giving 8 percent return on FDs. These rates on bank FDs are being given to common people i.e. investors below 60 years of age. Most banks give the benefit of higher returns on FDs to senior citizens i.e. investors of 60 years or more than the common people. At the same time, in the case of super senior citizens, the interest rates on FD can be even higher. However, only a few banks offer this.
| Name of the Bank | Interest Rate on 1 Year FD (%) (for common people) | Interest Rate on 1 Year FD (%) (for senior citizens) |
| Small Finance Bank | ||
| Ujjivan Small Finance Bank | 8.25 | |
| Jana Small Finance | 8.25 | |
| Equitas Small Finance Bank | 8.2 | |
| Utkarsh Small Finance Bank | 8 | |
| Unity Small Finance Bank | 7.85 | |
| AU Small Finance Bank | 7.25 | |
| Northeast Small Finance Bank | 7 | |
| Suryoday Small Finance Bank | 6.85 | |
| ESAF Small Finance Bank | 6 | |
| Private Sector Banks | ||
| Axis Bank | 6.7 | |
| Bandhan Bank | 7.25 | |
| City Union Bank | 7 | |
| CSB Bank | 5 | |
| indian bank | 7 | |
| DCB Bank | 7.1 | |
| Federal Bank | 6.8 | |
| HDFC Bank | 6.6 | |
| ICICI Bank | 6.7 | |
| IDFC First Bank | 6.5 | |
| IndusInd Bank | 7.75 | |
| Jammu & Kashmir Bank | 7 | |
| Karur Vysya Bank | 7 | |
| Karnataka Bank | 7.1 | |
| Kotak Mahindra Bank | 7.1 | |
| RBL Bank | 7.5 | |
| SBI Bank | 7.05 | |
| South Indian Bank | 6.7 | |
| Tamilnad Mercantile Bank | 7 | |
| Yes Bank | 7.25 | |
| Government Bank | ||
| Bank Of Baroda | 6.85 | |
| Bank Of India | 6.8 | |
| Maharashtra Bank | 6.75 | |
| Canara Bank | 6.85 | |
| Central Bank Of India | 6.85 | |
| Indian Bank | 6.1 | |
| Indian Overseas Bank | 7.1 | |
| Punjab National Bank | 6.8 | |
| Punjab & Sind Bank | 6.3 | |
| State Bank Of India | 6.8 | |
| Union Bank Of India | 6.8 | |
| Source:Paisabazaar.com | ||
| Interest rates as of 21 August 2024 | ||
Note: This list of banks has been prepared by Paisa Bazaar.com. Updates related to the interest rate on one-year FD have been collected from the official website of the respective banks. All these updates are till 21st August. Please note that banks keep changing the rates from time to time. In such a situation, before investing in the FD scheme of any bank, get accurate information on the official website of the concerned bank or your nearest branch.)
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Before investing in a one-year FD scheme, investors should check which bank is giving them the highest interest on FD. By doing this, they can get maximum returns on their investment in bank FD.
