Best FD Rates: These banks are offering 8.1% interest on FDs, check Bank List here.

 

Best FD Rates: FDs are back in vogue once again. Some small finance banks are currently offering 8.1 percent interest on FDs.

Best FD Rates: Rising inflation, gold and silver prices, and volatility in the stock market have brought the era of fixed deposits back. FDs are a better investment option in the current circumstances. Now, the question arises: which FDs offer the highest interest rates? Currently, small finance banks are offering 8.1 percent interest on fixed deposits. Let’s explore the details…

How much interest is being offered on FDs at public sector banks? (PSU bank FD rates)

According to Stable Money data, public sector banks are offering FDs ranging from 6% to 6.7% for ordinary citizens. Meanwhile, NBFCs are still offering investors interest rates above 7.5%.

How much interest is being offered at private banks? (Private banks FD rates)

State Bank of India, Punjab National Bank, and Bank of India are offering interest rates ranging from 6.45% to 6.6%. Private sector banks HDFC Bank, ICICI Bank, and Axis Bank are currently offering interest rates ranging from 6.45% to 6.50% on fixed deposits.

Small finance banks are offering the highest interest rates.

Suryaday Small Finance Bank and Utkarsh Small Finance Bank are offering interest rates of up to 8.1% on fixed deposits for select tenures. Jana Small Finance Bank is offering up to 7.77% interest on fixed deposits for its customers.

Which period offers the highest interest?

Currently, the highest interest rates are offered on FDs with tenures ranging from 1 year to 5 years.

IDFC First Bank – 7.25 percent interest on three-year FDs

Bandhan Bank – 7.25 percent interest on three-year FDs

RBL Bank offers 7.2 percent interest on three-year FDs

Yes Bank offers 7 percent interest on three-year FDs.

NBFC Bajaj Finance is offering 7.4 percent interest on three-year FDs. Meanwhile, Shriram Finance is offering 7.25 percent interest on FDs of the same duration.

Banks offer comparatively lower interest rates on 10-year FDs. Currently, these banks offer 6 percent to 6.5 percent interest. Suryoday Small Finance Bank is offering 8.1 percent interest on 2-year 6-month FDs. Utkarsh Small Finance Bank is offering 8.10 percent interest on 1-year 301-day FDs.


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