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Top 5 Banks Promising Higher Interest Rates On 1-Year Fixed Deposits In 2021

Investors are seeking fixed-income instruments in the debt category right now since the stock market is at an all-time high. Talking about fixed-income instruments, bank fixed deposits are the safest investment alternatives in the debt category. The rationale for this is that fixed deposits offer guaranteed returns over a specified investment term, as well as tax benefits if you invest for at least 5 years. Fixed deposits, as is generally known, generate higher interest rates over time, but what if you want to receive the best rates for a short period, maybe in a year?




For both regular and senior citizen depositors having a short-term goal of 1-year, here we have compiled the top 5 banks which not only provide the best rates in the market but ensure the safety of your deposits as they fall under the insurance guidelines of DICGC.

Ujjivan Small Finance Bank

For deposits less than Rs 2 Cr, Ujjivan small finance bank is the only bank that provides the highest interest rates on fixed deposits for a tenure of 1 year. With effect from 5 March 2021, the following interest rates are in force.

TenureRegular FD RatesSenior Citizen FD Rates
7 Days to 29 Days3.05%3.55%
30 Days to 89 Days4.05%4.55%
90 Days to 179 Days4.80%5.30%
180 Days to 364 Days5.20%5.70%
1 Year to 2 Years6.50%7.00%
2 Years and 1 Day to 3 years6.75%7.25%
3 Years and 1 Day to 5 Years6.75%7.25%
5 Years and 1 Day to 10 Years5.80%6.30%

 

Utkarsh Small Finance Bank

Utkarsh small finance bank offers the highest interest rates on fixed deposits with a term of one year for deposits under Rs 2 crore. The following interest rates are in effect from July 1, 2021.

TenureRegular FD RatesSenior Citizen FD Rates
7 Days to 45 Days3.00%3.50%
46 Days to 90 Days3.25%3.75%
91 Days to 180 Days4.00%4.50%
181 Days to 364 Days5.75%6.25%
365 Days to 699 Days6.25%6.75%
700 Days6.75%7.25%
701 Days to 3652 Days6.00%6.50%

 

ESAF Small Finance Bank

With effect from May 2, 2021, the interest rates of ESAF small finance bank fixed deposits are in force. Check the most recent rates of the bank below, for deposits of less than Rs 2 Cr.

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days4.00%4.50%
15 days to 59 days4.50%5.00%
60 days to 90 days5.25%5.75%
91 days to 181 days5.50%6.00%
182 days5.00%5.50%
183 days to 363 days6.00%6.50%
364 days5.25%5.75%
365 days & 366 days6.50%7.00%
367 days to 545 days6.25%6.75%
546 days5.00%5.50%
547 days to 727 days6.25%6.75%
728 days5.25%5.75%
729 days to 909 days6.00%6.50%
910 days5.25%5.75%
911 days to 1091 days6.00%6.50%
1092 days5.25%5.75%
1093 days to 1273 days5.75%6.25%
1275 -1455 days5.25%5.75%
1275 days -1455 days5.75%6.25%
1456 days5.25%5.75%
1457 days-1637 days5.75%6.25%
1638 days5.25%5.75%
1639 days-1819 days5.75%6.25%
1820 days5.25%5.75%
1821 days to 3653 days5.25%5.75%

 

Suryoday Small Finance Bank

Here are the most recent fixed deposit rates of Suryoday Small Finance Bank which are in force from June 21, 2021 for deposits less than Rs 2 Cr.

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days3.25%3.25%
15 days to 45 days3.25%3.25%
46 days to 90 days4.25%4.25%
91 days to 6 months4.75%4.75%
Above 6 months to 9 months5.25%5.25%
Above 9 months to less than 1 Year5.75%5.75%
1 Year to 1 Year 6 Months6.50%6.75%
Above 1 Year 6 Months to 2 Years6.50%6.50%
Above 2 Years to 3 Years6.25%6.50%
Above 3 Years to less than 5 Years6.75%6.75%
5 Years6.25%6.50%
Above 5 years to 10 years6.00%6.00%

 

Equitas Small Finance Bank

For both regular and senior citizens, Equitas small finance bank is promising the best rates on both short-term and long-term deposits. Below are the most recent fixed deposit interest rates of the bank which are in force from 1st June 2021 for deposits less than Rs 2 Cr.

TenureRegular FD RatesSenior Citizen FD Rates
7 – 14 days3.50%4.00%
15 – 29 days3.50%4.00%
30 – 45 days3.50%4.00%
46 – 62 days4.00%4.50%
63 – 90 days4.00%4.50%
91 – 120 days4.75%5.25%
121 – 180 days4.75%5.25%
181 – 210 days5.25%5.75%
211 – 270 days5.25%5.75%
271 – 364 days5.25%5.75%
1 year to 18 months6.35%6.85%
18 months 1 day to 2 years6.25%6.75%
2 years 1 day to 887 days6.35%6.85%
888 days6.50%7.00%
889 days to 3 years6.35%6.85%
3 years 1 day to 4 years6.25%6.75%
4 years 1 day to 5 years6.25%6.75%
5 years 1 day to 10 years6.50%7.00%
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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