Investing in Fixed Deposits (FDs) is a popular choice for those seeking safe investments with guaranteed returns.
While most major banks offer decent interest rates on FDs, smaller banks and non-banking financial companies (NBFCs) often provide more attractive rates to attract customers.
Here are five banks offering exceptional interest rates on FDs, with some rates going up to 9.60%.
Suryoday Small Finance Bank
If you’re looking for high returns on your FD investment, Suryoday Small Finance Bank is an excellent option.
This bank offers interest rates up to 9.60% for senior citizens on FDs with a tenure of 5 years.
For general investors, the interest rates are also very competitive, making it a lucrative choice for safe investments.
Unity Small Finance Bank
Unity Small Finance Bank provides a substantial interest rate of 9% for general citizens on FDs with a tenure of 1001 days.
Senior citizens benefit even more, with rates reaching up to 9.50%. This additional 0.5% interest for senior citizens makes it an attractive option for retirees looking to maximize their earnings.
Fincare Small Finance Bank
At Fincare Small Finance Bank, FDs with a tenure of 1000 days offer an interest rate of 8.51% for general investors.
Senior citizens receive an even better rate of 9.11%. This bank’s competitive rates make it a strong contender for those seeking higher returns on medium-term deposits.
Equitas Small Finance Bank
Equitas Small Finance Bank offers an interest rate of 8.50% on FDs with a tenure of 888 days for general investors.
Senior citizens can earn up to 9% interest for the same period. This makes it a solid choice for both regular and senior investors looking for reliable returns.
ESAF Small Finance Bank
Customers investing in ESAF Small Finance Bank receive an interest rate of 8.50% on deposits with a tenure of less than 3 years.
For senior citizens, the interest rate goes up to 9%, providing a significant boost in earnings for those in their retirement years.
