Fixed Deposits offering up to 9% return: Fixed deposits (FDs) have been a popular choice among investors due to their stability, security and guaranteed returns. It is a safe and reliable way for investors to raise funds. FDs are an important part of many investment portfolios.
While opening an FD account, investors usually have to choose the investment amount, reliable bank and tenure, as well as the right time for investment. Apart from this, another important factor that needs to be kept in mind while investing in FD is the desire for a higher interest rate, in fact, this directly affects the maturity amount. Interest rates have a big impact on the benefits for FD investors, so it is important to carefully assess this aspect. Also, it is important to choose the appropriate period based on financial goals.
Also read: Ola Electric IPO: Ola Electric IPO will open for subscription on August 2, full details
Fixed deposits offer stability and security, but there are several important factors to keep in mind. Firstly, the interest rates on fixed deposits are not fixed and are subject to change from time to time, so investors should get updated on interest rates before investing. One should look for FD schemes offering better returns and take advantage of the opportunity. Along with this, an investor needs to diversify his investment portfolio and be prudent in minimising risk and maximising benefits. Finally, inflation and tax implications should also be taken into account while assessing the overall benefits of your fixed deposit investments.
FDs in India remain a fundamental aspect of a cautious investment, offering stability, security, and regular returns. By identifying the benefits of FDs and strategically planning your investments, you can grow your wealth effectively. Whether your goal is to generate passive income, save for a specific purpose, or build a retirement fund, fixed deposits are a reliable option to meet your financial goals.
Also read: New Rule in August: Many important changes are going to happen from August 1, it may affect you too, check details
Where is the highest interest available on FD
If you want to earn good money by investing your money in FD, then here a list of private, government and small finance banks has been shared for you. The list includes more than 40 banks like SBI, PNB, BoI, HDFC Bank, ICICI Bank and Axis Bank, which offer interest rates up to 9% on fixed deposits. Apart from this, the list also includes details of the interest rate and tenure on FD. By comparing the FD rates of these banks, you can keep your money in the trusted bank offering the highest return.
| bank fd rates | |||||
| Name of bank | Annual interest rate | ||||
| The highest returns |
1 Year FD Rate (%) |
3 Year FD Rate (%) |
5 Year FD Rate (%) |
||
| Rate of interest % | Tenure | ||||
| Small Finance Bank | |||||
| AU Small Finance Bank | 8 | 18 months | 7.25 | 7.5 | 7.25 |
| Equitas Small Finance Bank | 8.5 | 444 days | 8.2 | 8 | 7.25 |
| ESAF Small Finance Bank | 8.25 | 2 years to less than 3 years | 6 | 6.75 | 6.25 |
| Jana Small Finance Bank | 8.25 | 365 days to 1095 days | 8.25 | 8.25 | 7.25 |
| Northeast Small Finance Bank | 9 | 546 days to 1111 days | 7 | 9 | 6.25 |
| Suryoday Small Finance Bank | 8.65 | 2 years 2 days | 6.85 | 8.6 | 8.25 |
| Ujjivan Small Finance Bank | 8.25 | 12 months | 8.25 | 7.2 | 7.2 |
| Unity Small Finance Bank | 9 | 1001 days | 7.85 | 8.15 | 8.15 |
| Utkarsh Small Finance Bank | 8.5 | 2 years to 3 years; 1500 days | 8 | 8.5 | 7.75 |
| Private Bank | |||||
| Axis Bank | 7.2 | 17 months to less than 18 months | 6.7 | 7.1 | 7 |
| Bandhan Bank | 7.85 | 1 year | 7.85 | 7.25 | 5.85 |
| City Union Bank | 7.25 | 400 days | 7 | 6.5 | 6.25 |
| CSB Bank | 7.75 | 401 days | 5 | 5.75 | 5.75 |
| indian bank | 7.5 | 376 days to 540 days | 7 | 6.5 | 6.5 |
| DCB Bank | 8.05 | 19 months to 20 months | 7.1 | 7.55 | 7.4 |
| Federal Bank | 7.4 | 400 days | 6.8 | 7 | 6.6 |
| HDFC Bank | 7.4 | 4 Years 7 Months (55 months) | 6.6 | 7 | 7 |
| ICICI Bank | 7.2 | 15 months to 2 years | 6.7 | 7 | 7 |
| IDFC First Bank | 7.75 | 500 days | 6.5 | 7.25 | 7 |
| IndusInd Bank | 7.75 | 1 year to 2 years | 7.75 | 7.25 | 7.25 |
| Jammu & Kashmir Bank | 7 | 1 year to less than 3 years | 7 | 6.5 | 6.5 |
| Karur Vysya Bank | 7.5 | 444 days | 7 | 7 | 7 |
| Karnataka Bank | 7.25 | 375 days | 7.1 | 6.5 | 6.5 |
| Kotak Mahindra Bank | 7.4 | 390 days to less than 23 months | 7.1 | 7 | 6.2 |
| RBL Bank | 8 | 18 months to 2 years | 7.5 | 7.5 | 7.1 |
| SBI Bank | 8.25 | 3 years 2 days | 7.05 | 7.3 | 7.75 |
| South Indian Bank | 7.25 | 400 Days | 6.7 | 6.7 | 6 |
| Tamilnad Mercantile Bank | 7.5 | 400 days | 7 | 6.5 | 6.5 |
| Yes Bank | 8 | 18 months | 7.25 | 7.25 | 7.25 |
| Government Bank | |||||
| Bank Of Baroda | 7.25 | 399 days | 6.85 | 7.15 | 6.5 |
| Bank of India | 7.3 | 666 days | 6.8 | 6.5 | 6 |
| Maharashtra Bank | 7.25 | 777 days | 6.75 | 6.5 | 6.5 |
| Canara Bank | 7.25 | 444 days | 6.85 | 6.8 | 6.7 |
| Central Bank Of India | 7.3 | 444 days | 6.85 | 6.5 | 6.5 |
| Indian Bank | 7.25 | 400 days -IND SUPER | 6.1 | 6.25 | 6.25 |
| Indian Overseas Bank | 7.3 | 444 days | 6.9 | 6.5 | 6.5 |
| Punjab National Bank | 7.25 | 400 days | 6.75 | 7 | 6.5 |
| Punjab & Sind Bank | 7.3 | 666 days | 6.3 | 6 | 6 |
| State Bank Of India | 7.25 | 444 days | 6.8 | 6.75 | 6.5 |
| Union Bank Of India | 7.25 | 399 days | 6.8 | 6.7 | 6.5 |
| Source: Paisabazaar.com | |||||
| Interest rates as of 24th July 2024 | |||||
,Note : This list has been prepared by Paisa Bazaar.com. Updates till July 24 have been taken from the official websites of various banks. This is for your information only. Banks keep changing the interest rate from time to time. In such a situation, before investing in the FD of any bank listed here, visit its official website or branch and get accurate information.)
Also read: Highest FD Rates: Where are senior citizens getting the highest interest on FD, check the list of banks
How to open an FD account
It is very easy to open an FD account these days. If you want to invest in FD, you can open this account by visiting your nearest bank branch. Those who know how to use the internet can apply to open an FD account by visiting the official website of the bank from home. Investors are advised to open their FD account in the bank where they already have a bank account, in fact the process can be even easier in this case. In this way, investors can save time in paperwork and other necessary procedures.
