New Delhi: When it comes to maximising returns on fixed deposits (FDs), small finance banks are currently leading the pack with some of the highest interest rates available. Among these, Unity Small Finance Bank and North East Small Finance Bank stand out by offering an impressive 9.00% per annum on FDs. This rate applies across different tenures, making them an attractive option for investors looking to secure substantial returns.
In the realm of scheduled private sector banks, SBM Bank offers competitive FD rates, reaching up to 8.25% per annum for a tenure of 3 years and 2 days. This rate places SBM Bank among the top choices for investors who prefer private-sector banks with higher interest yields.
Public sector banks are also in the race, with Punjab & Sind Bank offering the highest FD interest rates of up to 7.30% per annum for a tenure of 666 days. This rate provides a solid return compared to many other public sector banks, making it a viable option for those interested in long-term deposits.
Top 20 scheduled banks offering best FD rates
SBM Bank is offering an FD rate of 6.5% per annum along with a lifetime free Step Up Credit Card.
Unity Small Finance Bank and North East Small Finance Bank offer the highest FD interest rates at 9.00% per annum.
Among scheduled private sector banks, SBM Bank provides the best FD rates of up to 8.25% per annum for a tenure of 3 years and 2 days.
In the public sector, Punjab & Sind Bank offers the highest FD interest rate of 7.30% per annum for a tenure of 666 days.
Senior citizens can earn fixed deposit rates of up to 9.50% per annum, with an additional rate of 50-80 basis points over regular FD rates.
Some banks offer extra interest rates of 20-30 basis points on top of the senior citizen rates under special FD schemes.
Super senior citizens aged 80 and above often receive an additional 75-80 basis points over the regular FD rates from banks like RBL Bank, Indian Overseas Bank, Union Bank of India, Indian Bank, and Punjab National Bank.
HDFC Bank: 7.40% (1-year: 6.60%, 3-year: 7.00%, 5-year: 7.00%); Additional 0.50% for senior citizens.
Punjab & Sind Bank: 7.30% (1-year: 6.30%, 3-year: 6.00%, 5-year: 6.00%); Additional 0.50% for senior citizens.
State Bank of India: 7.25% (1-year: 6.80%, 3-year: 6.75%, 5-year: 6.50%); Additional 0.50-1.00% for senior citizens.
Unity Small Finance Bank: 9.00% (1-year: 7.85%, 3-year: 8.15%, 5-year: 8.15%); Additional 0.50% for senior citizens.
Northeast Small Finance Bank: 9.00% (1-year: 7.00%, 3-year: 9.00%, 5-year: 6.25%); Additional 0.50% for senior citizens.
Suryoday Small Finance Bank: Up to 8.65% (1-year: 6.85%, 3-year: 8.60%, 5-year: 8.25%); Additional 0.24-0.50% for senior citizens.
Shivalik Small Finance Bank: Up to 8.55% (1-year: 6.00%, 3-year: 7.50%, 5-year: 6.50%); Additional 0.50% for senior citizens.
Equitas Small Finance Bank: Up to 8.50% (1-year: 8.20%, 3-year: 8.00%, 5-year: 7.25%); Additional 0.50% for senior citizens.
Utkarsh Small Finance Bank: Up to 8.50% (1-year: 8.00%, 3-year: 8.50%, 5-year: 7.75%); Additional 0.60% for senior citizens.
Jana Small Finance Bank: 8.25% (1-year: 8.25%, 3-year: 8.25%, 5-year: 7.25%); Additional 0.50% for senior citizens.
Ujjivan Small Finance Bank: 8.25% (1-year: 8.25%, 3-year: 7.20%, 5-year: 7.20%); Additional 0.50% for senior citizens.
ESAF Small Finance Bank: 8.25% (1-year: 6.00%, 3-year: 6.75%, 5-year: 6.25%); Additional 0.50% for senior citizens.
SBM Bank: 8.25% (1-year: 7.05%, 3-year: 7.30%, 5-year: 7.75%); Additional 0.50% for senior citizens.
DCB Bank: 8.05% (1-year: 7.10%, 3-year: 7.55%, 5-year: 7.40%); Additional 0.50% for senior citizens.
RBL Bank: 8.00% (1-year: 7.50%, 3-year: 7.50%, 5-year: 7.10%); Additional 0.50% for senior citizens.
AU Small Finance Bank: 8.00% (1-year: 7.25%, 3-year: 7.50%, 5-year: 7.25%); Additional 0.50% for senior citizens.
YES Bank: 8.00% (1-year: 7.25%, 3-year: 7.25%, 5-year: 7.25%); Additional 0.50-0.75% for senior citizens.
Bandhan Bank: 7.85% (1-year: 7.85%, 3-year: 7.25%, 5-year: 5.85%); Additional 0.50-0.75% for senior citizens.
IDFC First Bank: 7.75% (1-year: 6.50%, 3-year: 7.25%, 5-year: 7.00%); Additional 0.50% for senior citizens.
IndusInd Bank: 7.75% (1-year: 7.75%, 3-year: 7.25%, 5-year: 7.25%); Additional 0.50% for senior citizens.
For investors seeking high returns on fixed deposits, small finance banks lead with impressive rates, with Unity Small Finance Bank and North East Small Finance Bank offering 9.00% per annum. SBM Bank follows with competitive rates of up to 8.25% per annum, while public sector banks like Punjab & Sind Bank offer up to 7.30% per annum. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
