Highest Interest Rates on FD: Fixed deposit is a great option to invest. If you are thinking of investing then you can earn lakhs by investing in FD scheme. Let us know which bank is giving the highest profit on your money.
Fixed deposits are one of the safest ways to invest some of your money. The interest rates on bank fixed deposits paid by banks vary.
If you want to get the highest interest rate by investing in FD, then you will have to compare the interest rates. Small finance banks are offering maximum interest rates up to 9 percent to customers. In such a situation, if you invest Rs 5 lakh for 2 years, then on maturity you will get an increase of Rs 5,97,416 i.e. a direct profit of Rs 97,416.
Shivalik Small Finance Bank
According to the website of Shivalik Small Finance Bank, the bank is offering interest rates between 3.75 percent to 8.10 percent to its customers on FD investments for a period ranging from 7 days to 10 years. The bank is offering 8 percent interest rate on investment in FD for 2 years and less than 3 years. These rates are applicable from 24 November 2023.
Unity Small Finance Bank
Unity Small Finance Bank offers interest rates between 4.50 percent to 9 percent to its customers on tenures ranging from 7 days to 10 years. The bank is offering 9 percent interest rate on tenure of 1001 days and 7.65% interest rate on investment tenure of 1002 days to 3 years.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering interest at the rate of 4.00 percent to 8.60 percent to the general citizens investing in FD on different tenures. This bank is offering the highest interest rate of 8.60% on tenure of more than 2 years to 3 years. These new interest rates are applicable from 7 August 2023.
Fincare Small Finance Bank
According to the website of Fincare Small Finance, the bank offers interest rates between 3 percent to 8.61 percent for tenure ranging from seven days to 10 years. For the last few days, the highest interest rate of 8.61 percent is being given on investment in FD. Whereas, 8.15 percent interest rate is being given on FD for 751 days to 30 months. These interest rates are applicable from 28 October 2023
Jana Small Finance Bank
Jana Small Finance Bank is offering interest rates between 3 percent to 8.50 percent on FD investments for seven days to 10 years. In Jana Small Finance Bank, the interest rate on FD maturing between two to three years is 8.5 percent.
How safe is it to invest in small banks?
Compared to big banks, small banks offer much higher interest rates to their FD customers. But, among the customers who invest their money, there is concern about the future of small banks that if the bank goes bankrupt, how will they get their money. However, the Indian banking system is very strong, hence experts deny any threat to the future of banks.
In small finance banks, the amount invested up to Rs 5 lakh is insured. This amount is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC). This guarantee is also available on deposits of Small Finance Bank.
