After a 5-day decline, the stock market rose on October 28. However, there is still a risk of a future sell-off. In uncertain times like these, many investors look for safer options,
and fixed deposits (FDs) are often considered the safest investment. One common worry about FDs is that they provide low returns.
To help ease this concern, we’ve compiled a list of FD options that offer returns of over 9%.
High-Interest FD Options
The portfolio investment platform Smallcase now offers fixed deposit schemes with interest rates up to 9.5%.
This attractive offer comes from partnerships with several banks, including Shivalik Bank, Suryodaya Small Finance Bank, Utkarsh Small Finance Bank, South Indian Bank,
and North East Small Finance Bank. These FDs are available for terms of up to 60 months, allowing users to invest amounts ranging from ₹1,000 to ₹10 lakh.
RBI Approval and Security
All FDs available through Smallcase are approved by the Reserve Bank of India (RBI) and insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
This insurance provides coverage of up to ₹5 lakh per account in each bank, ensuring the safety of investors’ deposits. Smallcase has also made the process completely digital
and user-friendly, allowing investors to book FDs without any paperwork and easily manage their investments.
Attractive Returns for Senior Citizens
Senior citizens can benefit from interest rates ranging from 7% to 9.5%, depending on the bank and the scheme.
They also receive an additional premium of 0.2% to 0.7%, making their FDs even more appealing.
North East Small Finance Bank offers the highest interest rate of 9.5%, while Suryodaya Small Finance Bank and Utkarsh Small Finance Bank provide rates of up to 9.1% for senior citizens.
