Highest Interest rates on FD: Bank FDs (fixed deposits) are a safe and profitable way to invest, especially when you have some extra money that you do not need to use immediately. If you are planning to make FD for a period of one to three years, then here is information about the interest rates offered by some major banks.
These banks are giving highest interest on 1 year FD
| bank name |
1 year interest rate (%) |
| Small Finance Bank | |
| AU Small Finance Bank | 7.25 |
| Equitas Small Finance Bank | 8.10 |
| ESAF Small Finance Bank | 6.00 |
| Jana Small Finance Bank | 8.25 |
| NorthEast Small Finance Bank | 7.00 |
| Suryoday Small Finance Bank | 6.85 |
| Ujjivan Small Finance Bank | 8.25 |
| Unity Small Finance Bank | 7.85 |
| Utkarsh Small Finance Bank | 8.00 |
| private bank | |
| Axis Bank | 6.70 |
| Bandhan Bank | 8.05 |
| City Union Bank | 7.00 |
| CSB Bank | 5.00 |
| DBS Bank | 7.00 |
| DCB Bank | 7.10 |
| Federal Bank | 6.80 |
| HDFC Bank | 6.60 |
| ICICI Bank | 6.70 |
| IDFC First Bank | 6.50 |
| IndusInd Bank | 7.75 |
| Jammu & Kashmir Bank | 7.00 |
| Karur Vysya Bank | 7.00 |
| Karnataka Bank | 7.35 |
| Kotak Mahindra Bank | 7.10 |
| RBL Bank | 7.50 |
| SBM Bank India | 7.05 |
| South Indian Bank | 6.70 |
| Tamilnad Mercantile Bank | 7.00 |
| Yes Bank | 7.25 |
| government bank | |
| Bank of Baroda | 6.85 |
| Bank of India | 6.80 |
| Bank of Maharashtra | 6.75 |
| Canara Bank | 6.85 |
| Central Bank of India | 6.85 |
| Indian Bank | 6.10 |
| Indian Overseas Bank | 7.10 |
| Punjab National Bank | 6.80 |
| Punjab & Sind Bank | 6.30 |
| State Bank of India | 6.80 |
| Union Bank of India | 6.80 |
| Source:Paisabazaar.com | |
| Interest rates as of 30th October 2024 | |
The interest rates on one year FD in the banks in the list range from 5% to 8.25%, which provides attractive options for investment.
These banks are getting better returns on 3 year FD
| bank name |
Interest on 3 year FD (%) |
| Small Finance Bank | |
| AU Small Finance Bank | 7.50 |
| Equitas Small Finance Bank | 8.00 |
| ESAF Small Finance Bank | 6.75 |
| Jana Small Finance Bank | 8.25 |
| NorthEast Small Finance Bank | 9.00 |
| Suryoday Small Finance Bank | 8.60 |
| Ujjivan Small Finance Bank | 7.20 |
| Unity Small Finance Bank | 8.15 |
| Utkarsh Small Finance Bank | 8.50 |
| private bank | |
| Axis Bank | 7.10 |
| Bandhan Bank | 7.25 |
| City Union Bank | 6.50 |
| CSB Bank | 5.75 |
| DBS Bank | 6.50 |
| DCB Bank | 7.55 |
| Federal Bank | 7.00 |
| HDFC Bank | 7.00 |
| ICICI Bank | 7.00 |
| IDFC First Bank | 6.80 |
| IndusInd Bank | 7.25 |
| Jammu & Kashmir Bank | 6.75 |
| Karur Vysya Bank | 7.00 |
| Karnataka Bank | 6.50 |
| Kotak Mahindra Bank | 7.00 |
| RBL Bank | 7.50 |
| SBM Bank India | 7.30 |
| South Indian Bank | 6.70 |
| Tamilnad Mercantile Bank | 6.50 |
| Yes Bank | 7.25 |
| government bank | |
| Bank of Baroda | 7.15 |
| Bank of India | 6.50 |
| Bank of Maharashtra | 6.50 |
| Canara Bank | 6.80 |
| Central Bank of India | 6.75 |
| Indian Bank | 6.25 |
| Indian Overseas Bank | 6.50 |
| Punjab National Bank | 7.00 |
| Punjab & Sind Bank | 6.00 |
| State Bank of India | 6.75 |
| Union Bank of India | 6.70 |
| Source:Paisabazaar.com | |
| Interest rates as of 30th October 2024 | |
Benefits of investing money in short term FD
Short term FDs are helpful in preparing your emergency fund. It is said that for emergency fund, you should have an amount equal to 3 to 6 months’ salary. This money should be invested in a place where the risk is less and can be withdrawn immediately at the time of need. For this, short term FD, liquid funds or other safe investment options are suitable.Thus, if you want safe and stable returns, then a one to three year FD can be a great option for you.
