Highest FD Rates:Despite having many investment options, Fixed Deposit (FD) is the first choice of most people. Experts believe that every person should definitely include FD in their investment portfolio. Investors’ money is safe in FD and returns on the amount deposited in this scheme are also guaranteed. This is the reason why FD scheme is very popular among people who take less risk.
Talking about the benefits, apart from security and guaranteed returns, there are many other benefits of keeping money in FD scheme. You can choose the tenure of the investment as per your convenience. That is, you can lock your savings till that period. Also, you can surrender the FD if needed. However, some banks and other financial institutions may also charge a penalty for closing the FD account before maturity. In such a situation, it is important to understand the rules of the bank or financial institution before investing money in an FD scheme. While choosing an FD scheme, one should know about the tenure, returns and other important aspects. Only after doing this, the right step should be taken.
Also read: FD Rates: These banks are giving up to 8.75% interest on 1 year FD, check the list before investing money
We all know that the decision of how long to lock the money in an FD scheme is in the hands of the investor. 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 3 years, then you can check the list of banks here.
Where is the highest interest available on 3-year FD
At present, small finance banks are giving the highest returns on FDs to investors. If a person wants to get the highest returns on 3-year FDs, then he can invest money in the FD schemes of these banks.
North East Small Finance Bank is offering 9.5% interest on FDs. Senior citizens can get the benefit of returns by investing in the bank’s FDs. General customers, i.e. investors below 60 years of age, are getting 0.5% less interest on FDs in the bank.
The list also includes the names of many private and government banks. If someone wants to get better returns by making FD in a government bank, then he can keep money in Bank of Baroda. The bank is offering up to 7.65 percent interest on FD to its customers. At the same time, DCB Bank is offering the highest return on FD among private banks. Let us tell you that investors have to go through less paperwork to open an FD account in the bank where they already have an account.
Also read: Home Loan: You need a cheap home loan to buy a house, decide by looking at the list of banks and housing finance companies
You can check in this list how much interest investors are getting on FD in which bank.
| Name of the Bank | Interest on 3 Year FD (%) (for common people) | Interest on 3 Year FD (%) (for senior citizens) |
| Small Finance Bank | ||
| Northeast Small Finance Bank | 9 | 9.5 |
| Suryoday Small Finance Bank | 8.6 | 9.1 |
| Utkarsh Small Finance Bank | 8.5 | 9.1 |
| Jana Small Finance | 8.25 | 8.75 |
| Unity Small Finance Bank | 8.15 | 8.65 |
| Equitas Small Finance Bank | 8 | 8.5 |
| AU Small Finance Bank | 7.5 | 8 |
| Ujjivan Small Finance Bank | 7.2 | 7.7 |
| ESAF Small Finance Bank | 6.75 | 7.25 |
| Private Bank | ||
| DCB Bank | 7.55 | 8.05 |
| RBL Bank | 7.5 | 8 |
| SBI Bank | 7.3 | 7.8 |
| Yes Bank | 7.25 | 8 |
| Bandhan Bank | 7.25 | 7.75 |
| IndusInd Bank | 7.25 | 7.75 |
| IDFC First Bank | 7.25 | 7.75 |
| Axis Bank | 7.1 | 7.6 |
| Kotak Mahindra Bank | 7 | 7.6 |
| Federal Bank | 7 | 7.5 |
| HDFC Bank | 7 | 7.5 |
| ICICI Bank | 7 | 7.5 |
| Karur Vysya Bank | 7 | 7.4 |
| Jammu & Kashmir Bank | 6.75 | 7.25 |
| South Indian Bank | 6.7 | 7.2 |
| Tamilnad Mercantile Bank | 6.5 | 7 |
| Karnataka Bank | 6.5 | 6.9 |
| City Union Bank | 6.5 | 6.75 |
| indian bank | 6.5 | 7 |
| Government Bank | ||
| Bank Of Baroda | 7.15 | 7.65 |
| Punjab National Bank | 7 | 7.5 |
| Canara Bank | 6.8 | 7.3 |
| Central Bank Of India | 6.75 | 7.25 |
| State Bank Of India | 6.75 | 7.25 |
| Union Bank Of India | 6.7 | 7.2 |
| Bank Of India | 6.5 | 7.25 |
| Maharashtra Bank | 6.5 | 7 |
| Indian Overseas Bank | 6.5 | 7 |
| Indian Bank | 6.25 | 6.75 |
| Punjab & Sind Bank | 6 | 6.5 |
| 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.)
Also read: Car Loan: Where will you get the cheapest loan to buy a car? What will be the EMI on a loan up to Rs 5 lakh? Check the list of banks
Before investing in a three-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.
