Fixed Deposits (FD): have been a popular investment option among the people. FDs are a good investment option, however, interest rates have come down in the last few years, which has made people less inclined towards it. You should compare the interest rates on offer before choosing an FD. Let us see which bank is giving how much interest.
Yes Bank FD: For senior citizens, gives 7 percent interest on FDs of three years. This bank is paying the highest interest among private banks. An investment of Rs 1 lakh grows to Rs 1.23 lakh in three years.
RBL Bank FD: For senior citizens, gives 6.80 percent interest in three-year FD. The investment of Rs 1 lakh grew to Rs 1.22 lakh in three years.
IndusInd Bank FD: For senior citizens, gives 6.50 percent interest in three-year FD. The investment of Rs 1 lakh grew to Rs 1.21 lakh in three years. The minimum investment required is Rs 10,000.
DCB Bank FD: For senior citizens, gives 6.45 percent interest in three-year FD. The investment of Rs 1 lakh grew to Rs 1.21 lakh in three years. The minimum investment required is Rs 10,000.
IDFC First Bank FD: For senior citizens, gives 6.25 percent interest in three-year FD. The investment of Rs 1 lakh grew to Rs 1.20 lakh in three years.
Small private banks and small finance banks offer higher interest rates for fresh deposits. Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI guarantees investment in fixed deposits up to Rs 5 lakh.
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