The Reserve Bank of India (RBI) recently reduced the repo rate by 0.25%, and experts predict that banks may soon lower FD interest rates. This means that if you’re looking for higher returns on fixed deposits (FDs), now is the best time to invest. Some banks are currently offering interest rates between 8% and 9%, but these rates may not last long.
Here’s a list of banks providing the highest FD interest rates across different categories.
Small Finance Banks Offering 8-9% Interest on FDs
- NorthEast Small Finance Bank – 9.00% (Tenure: 546 to 1,111 days)
- Unity Small Finance Bank – 9.00% (Tenure: 1,001 days)
- Suryoday Small Finance Bank – 8.60% (Tenure: 2 to 3 years)
- Equitas Small Finance Bank – 8.25% (Tenure: 444 days)
- Jana Small Finance Bank – 8.25% (Tenure: 1 to 3 years)
- Ujjivan Small Finance Bank – 8.25% (Tenure: 12 months)
- Utkarsh Small Finance Bank – 8.50% (Tenure: 2 to 3 years; 1,500 days)
Private Sector Banks Offering 8%+ Interest on FDs
- Bandhan Bank – 8.05% (Tenure: 1 year)
- RBL Bank – 8.10% (Tenure: 500 days)
- SBM Bank India – 8.25% (Tenure: 18 months to 2 years and 3 days)
Foreign Banks Offering 8% Interest on FDs
- Deutsche Bank – 8.00% (Tenure: 1 to 3 years)
Why You Should Invest Now?
With FD interest rates expected to drop soon, this is a limited-time opportunity to secure higher returns. Small finance banks are currently offering the best FD rates, with some going up to 9% interest.
Before investing, make sure to check the terms and conditions of each bank and choose the FD option that best suits your financial goals. Don’t miss this chance to maximize your savings with high FD interest rates!
