FD Rates: The Reserve Bank has recently cut the repo rate by 0.25 percent. Since then, most experts believe that banks can reduce interest rates on FDs. In such a situation, investors have less time left to get higher returns
FD Rates: The Reserve Bank has recently cut the repo rate by 0.25 percent. Since then, most experts believe that banks can reduce interest rates on FDs. In such a situation, investors have less time left to get higher returns. Soon banks will start reducing interest rates on their FDs. If you also want to earn 8 to 9 percent interest on FD, then know here which bank is offering the highest interest.
These banks are giving 8% interest on FD
Small Finance Banks
Unity Small Finance Bank – 9.00% (1001 days)
Northeast Small Finance Bank – 9.00% (18 months 1 day to 36 months)
Suryoday Small Finance Bank – 8.60% (5 years)
ESAF Small Finance Bank – 8.38% (888 days)
Jan Small Finance Bank – 8.25% (1 year to 3 years)
Equitas Small Finance Bank – 8.25% (888 days)
Ujjivan Small Finance Bank – 8.25% (12 months)
AU Small Finance Bank – 8.10% (18 months)
Utkarsh Small Finance Bank – 8.50% (2 years to 3 years; 1500 days)
Private Sector Banks – These banks are giving 8% interest
Bandhan Bank – 8.05% (1 year)
RBL Bank – 8.00% (500 days)
Yes Bank – 8.00% (18 months)
IDFC First Bank – 7.90% (400 to 500 days)
DBS Bank – 7.50% (376 to 540 days)
Foreign Banks – These banks are giving 8% interest
Deutsche Bank – 8.00% (1 year to 3 years)
Standard Chartered Bank – 7.50% (1 year to 375 days)
HSBC Bank – 7.50% (601 to 699 days)
Public Sector Banks
Central Bank of India – 7.50% (1111 days; 3333 days)
Bank of Maharashtra – 7.45% (366 days)
Bank of India – 7.30% (400 days)
Punjab & Sind Bank – 7.45% (555 days)
Canara Bank – 7.40% (less than 3 years to 5 years)
Who is giving the best offer in FD
If we look at the best interest rates on FD, then Small Finance Banks are at the forefront. Unity Small Finance Bank and Northeast Small Finance Bank are giving the highest interest at the rate of 9%. In the count of private sector banks, Bandhan Bank and RBL Bank are giving more than 8% interest. Apart from this, foreign bank Deutsche Bank is offering an interest rate of 8%. If you want good returns while keeping your money safe, then these FD schemes can be a great option for you. Before investing, definitely read the terms and conditions of the banks and choose the right option according to your needs.
