Best FD Rates: If you’re considering investing in an FD, be sure to compare interest rates from different banks before investing. Here are 3-year FD interest rates from some major private and public sector banks.
Best 3-Year FD Rates: If you’re looking for a safe and guaranteed investment, a fixed deposit (FD) is a reliable option. Currently, most major public and private banks are offering up to 6.65% interest on 3-year FDs. However, interest rates vary slightly between banks. Let’s find out how much you’ll benefit from each bank.
IndusInd Bank
IndusInd Bank is offering 6.65% interest on 3-year FDs. This rate is the highest among private banks.
Axis Bank
Axis Bank is offering 6.6% interest on 3-year FDs for senior citizens.
HDFC Bank
HDFC Bank, the country’s largest private bank, is offering 6.4% interest on a 3-year term.
ICICI Bank
ICICI Bank, the second-largest private sector bank, is offering 6.6% interest on 3-year FDs.
Kotak Mahindra Bank
Kotak Mahindra Bank is offering 6.4% interest on 3-year FDs. Union Bank of India and Bank of Baroda are offering 6.4% interest on 3-year FDs.
State Bank of India (SBI)
State Bank of India, the country’s largest public sector bank, is offering 6.3% annual interest on 3-year terms.
How safe are your savings in an FD?
Is your FD completely safe? The answer is yes, but there are limits. According to Reserve Bank of India regulations, if a bank collapses or ceases operations for any reason, depositors are guaranteed a maximum of ₹5 lakh of the total balance in their account. This protection is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
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