Fixed deposits have emerged as a favorable investment option following the recent increase in interest rates.
Many banks are now offering attractive interest rates to customers on their fixed deposit schemes.
Here are the top five banks with noteworthy rates:
1) DCB Bank: Senior citizens can avail themselves of an impressive 8.5% interest rate on two-year fixed deposits.
Meanwhile, common citizens can enjoy a competitive interest rate of 7.75%.
2) IndusInd Bank: For a two-year fixed deposit, senior citizens can earn a lucrative 8.25% interest rate, while common citizens can avail themselves of the highest rate at 7.75%.
3) RBL Bank: Senior citizens can benefit from an 8% interest rate on two-year fixed deposits.
Common citizens, on the other hand, can enjoy the highest interest rate of 7.80% for a ten-year tenure.
4) Axis Bank: Senior citizens can secure a favorable interest rate of 7.8% on two-year fixed deposits.
The maximum interest rate for common citizens stands at 7.1% for longer tenures.
5) AU Small Finance Bank: Senior citizens can earn a promising 7.75% interest rate on two-year fixed deposits, while common citizens can receive a maximum rate of 7% for extended tenures.
These banks present enticing opportunities for investors looking to maximize their returns through fixed deposits.