FD Interest Rate | These banks are paying up to 7.5% interest on fixed deposits

 

The Reserve Bank of India has lowered the repo rate to 225 basis points since the beginning of 2019, affecting the interest rates of fixed deposits the most. However, now the demand for such investment options is increasing rapidly among people in whom returns are ensured and maximum returns are made. In fact, risk-averse investors such as senior citizens depend only on the monthly payment of their non-cumulative fixed deposits in the years following their retirement.

 

The reduction in a fixed deposit interest rates in recent times is a cause of great concern for investors, as their FD returns may prove inadequate to meet various financial goals on time. However, it may be beneficial to invest in a small finance bank for higher interest than fixed deposit returns, which are currently offering 2-4% higher rates than public and private banks.

 

However, before investing in the investors, get to know about its risk assessment and check the finances of these small finance banks. Higher fixed deposit interest rates offered by small finance banks can also help in earning higher real returns.

 

So, if you are planning to invest in a fixed deposit with a small finance bank, you can approach Fincare Small Finance Bank, Ujjivan Small Finance Bank, Jan Small Finance Bank and Suryodaya Small Finance Bank.

 

Bank FD rates comparison

 

Bank Name	FD Rate	Tenure
Fincare Small Finance Bank	7.5	3 to 5 Year
Suryodya Small Finance Bank	7.5	3 to 5 Year
Jana Small Finance Bank Interest Rates	7.5	2 to 3 Year
Equitas Small Finance Bank	7.35	2 to 3 Year
Au Small Finance Bank Interest Rates	6.75	1 to 2 Year
Indusind Bank FD	7.0	2 to 3 Year
Saraswat Bank FD Rates	5.5	3 to 5 Year
Abhyudaya Bank FD Rates	6.25	3 to 5 Year
DBS FD interest rates	5.2	5 Year and above
Lokmanya Multipurpose Cooperative Society FD Rate	10	3 to 5 Year
Cosmos Bank FD Rates	5.8	3 to 5 Year
Ujjain Small Finance Bank FD Interest Rate	6.95	1 to 2 Year
Bandhan Bank FD interest Rate	6.25	1 Year To 18 Month