Fixed Deposits (FDs) are a popular choice for low-risk investors looking for guaranteed returns. A 3-year FD can help grow your wealth steadily.
To maximize returns, it’s important to compare interest rates across banks before investing.
Here’s a look at some of the top banks offering the best rates for a 3-year FD of up to Rs 1 crore, based on data from BankBazaar as of October 31.
The rates are for resident, retail, and non-senior citizens, and we’ve calculated returns for a Rs 1 lakh investment.
Top Private Sector Banks for 3-Year FDs
IndusInd Bank – Offers 6.65% interest, the highest among private banks.
A Rs 1 lakh FD will grow to Rs 1,19,950 in 3 years.
Axis Bank & ICICI Bank – Both provide 6.6% interest, with Rs 1 lakh maturing to Rs 1,19,800.
HDFC Bank & Kotak Mahindra Bank – Offer 6.4% interest, turning Rs 1 lakh into Rs 1,19,200 after 3 years.
Top Public Sector Banks for 3-Year FDs
Bank of Baroda & Union Bank of India – Offer 6.4% interest, resulting in Rs 1,19,200 on maturity.
State Bank of India (SBI) – Provides 6.3% interest, with Rs 1 lakh growing to Rs 1,18,900.
Canara Bank & Punjab National Bank – Offer 6.25% interest, meaning Rs 1 lakh will become Rs 1,18,750 in 3 years.
Safety of Your Investment
Investments in FDs are safe and guaranteed.
The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI, insures deposits up to Rs 5 lakh.
This ensures your money is secure while it earns steady interest.
