highlights
The average interest rate of the top 10 banks on FD over a three-year period is 7.6 percent.
With foreign banks, Deutsche Bank pays interest of 7.75 percent on three-year FDs.
Union Bank of India offers the highest interest rates on FD among public sector banks.
New Delhi. The current financial year has proven to be good for fixed-term deposit investors due to the rise in interest rates. After the RBI hiked the repo rate six times in a row, all banks hiked interest rates on FDs. Currently, small financial banks, foreign banks and small private banks offer the highest interest rate on FDs for a three-year period. At the same time, public banks are lagging behind in this matter.
According to BankBazaar, the average interest rate offered by the top 10 banks on FDs over a three-year period is 7.6 percent. Today, here we inform you about the interest rate of the top 10 banks on FD for a period of three years.
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It is at the top of foreign banks
Deutsche Bank, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are the top foreign banks paying the highest interest rates on FDs. Deutsche Bank pays interest on FD at 7.75 percent for a period of three years. Similarly, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are also paying 7.75 percent interest on three-year FDs.
Where is the highest interest in private banks
IDFC First Bank and IndusInd Bank offer the highest interest rates on FDs among the country’s private banks. An investment of Rs 1 lakh in the FD of these banks increases to Rs 1.26 lakh in three years. DCB Bank gives 7.60 percent interest on FDs with a term of three years. Rs 1,000 invested in this bank’s FD program will grow to Rs 1,25,000 in three years.
Union Bank is paying more attention to the public sector
Union Bank of India offers the highest interest rate on FD among the major public sector banks in the country. The interest rate on FD from this bank is 7.30 percent. In which the investment will increase from Rs 1 lakh to Rs 1.24 lakh in three years. Similarly, Bandhan Bank, City Union Bank, and Suryoday Small Finance Bank lead among small finance banks offering the highest rates on FDs. These banks pay 7.25 percent interest on three-year FDs.
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FIRST RELEASED : March 31, 2023
