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Highest FD Return: Guaranteed return on investment in 5 banks, 1.26 lakh profit in 31 months

Highest Fixed Deposit Interest Rates: Compared to normal banks, many small finance banks are paying interest of 8 to 9.5 percent on Fixed Deposit. Whereas, many big banks including SBI, HDFC Bank, PNB are far behind Small Finance Bank in terms of FD interest rates.

New Delhi: If you want to make a profit of more than 1.26 lakhs in just 31 months by investing 5 lakhs in FD, then 5 banks are giving this opportunity to their customers. Investors are increasingly inclined to invest in Fixed Deposits due to guaranteed returns and ever-increasing interest rates. Small finance banks are giving the highest interest rate (Highest FD Return) as compared to other banks. The special thing is that the amount up to 5 lakhs invested in these banks is covered with insurance. Therefore, the investor does not face any risk of losing his money. Let us know which bank is giving the highest interest rate on FD of which tenure.

RBI has increased the repo rate by 2.50 per cent in a year since last May. Due to the increase in the repo rate of RBI, banks have also increased the interest rates on Fixed Deposits (FD). Compared to normal banks, many small finance banks are paying interest of 8 to 9.5 percent on fixed deposits. Whereas, many big banks including SBI, HDFC Bank, PNB are far behind Small Finance Bank in terms of FD interest rates.

Small finance banks are offering interest rates between 8-9% to regular citizens for amounts below Rs 2 crore with the facility of premature withdrawal. Whereas, up to 9.5 percent interest rate is being offered to senior citizens.

Fincare Small Finance Bank

Fincare Small Finance Bank is offering the highest interest rate of 8.41% for a tenure of 1000 days. The bank is offering 8.25 per cent interest rate to FD investors on 36 months 1 day to 42 months tenure and 8.11 per cent interest rate on 750 days tenure.

Shivalik Small Finance Bank

Shivalik Small Finance Bank is operating FD to invest amount between Rs 25 lakh to Rs 2 crore. For 18 months to less than 24 months, FD is offering the highest interest rate of 8.15 per cent to the investors.

Unity Small Finance Bank

Unity Small Finance Bank is offering interest ranging from 4.50 percent to 9 percent to common citizens on FDs ranging from seven days to 10 years. This bank is giving interest ranging from 4.50 per cent to 9.50 per cent on FDs of seven days to 10 years to senior citizens. At the same time, on 1001 days FD, the common people are getting the maximum interest of 9 percent and senior citizens are getting 9.5 percent.

Suryoday Small Finance Bank

Suryoday Small Finance Bank: This small finance bank is offering four per cent to 8.51 per cent interest to the common people on FDs of 7 days to 10 years. At the same time, this bank is offering interest ranging from 4.5 per cent to 8.76 per cent to senior citizens.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank: In this bank, common citizens can get returns ranging from 4% to 8.25% on FDs of seven days to 10 years. At the same time, senior citizens have the opportunity to earn up to 9% returns.

Interest rates of SBI, HDFC and ICICI Bank

Other banks like SBI are offering the highest interest rate of 6.75 per cent. HDFC Bank and ICICI Bank are offering the highest interest rate of up to 7% to their regular customers.

How safe is it to invest in Small Finance Bank

Like other banks, RBI also regulates Small Finance Bank. But before investing in any small finance bank, customers should ensure that the bank is covered under Deposit Insurance and Credit Guarantee Corporation or not. Under this insurance, deposits of investors in banks are covered up to five lakh rupees and investors’ money does not get lost even if the bank collapses.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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