When it comes to investment with a guaranteed return, bank fixed deposits (FDs) continue to be popular investment products not just among senior citizens, who are looking for guaranteed income, but also among investors who are looking for low-risk investment tools. Before choosing an FD, you should compare the interest rates on offer. Investors are most likely to put their money in a bank that gives them the highest interest rate. But the rate offered by top lenders like the State Bank of India (SBI), HDFC Bank, ICICI Bank and others have been falling for some time. On the contrary, some small finance banks (SFBs) are offering lucrative interest rates when compared to top lenders. Although, they have also cut the rates.
Small finance banks offer the highest interest rate ranging from 6.75% and 7%.
Suryoday Small Finance Bank FD rates
According to its website, Suryoday Small Finance Bank offers interest ranging from 3.25% to 6.75% on deposits maturing in 7 days to 10 years.
North East Small Finance Bank FD rates
North East Small Finance Bank offers an interest rate ranging from 3% to 7% on FDs maturing in 7 days to 10 years.
Jana Small Finance Bank FD rates
Jana Small Finance Bank offers interest rates ranging from 2.5% to 6.75%. Utkarsh Small Finance Bank offers interest rates ranging from 3% to 6.75%
SBI FD rates
SBI FDs between 7 days to 10 years will give 2.9% to 5.4% to general customers.
HDFC Bank FD rates
HDFC Bank offers interest ranging from 2.50% to 5.50% on deposits maturing between 7 days and 10 years.
ICICI Bank FD rates
ICICI Bank gives interest rates ranging from 2.5% to 5.50% on deposits maturing in 7 days to 10 years.
Never miss a story! Stay connected and informed with Mint.
our App Now!!
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Read original article here
The post These 3 banks offer higher interest than SBI, ICICI, HDFC Bank on fixed deposits appeared first on TechiAzi.