Four banks with over 8% Fixed Deposit interest. Check now
New Delhi : Fixed Deposit (FD) investments are often considered as one of the safer investments one can make in India and even in the world.
It is always a better idea to make one with the maximum interest rates and to ease the quest of better offer; we bring to you four banks which are offering an interest rate of over 8% on the Fixed Deposits.
Recently, with a decreased repo rate by the RBI, many lenders including the State Bank of India, ICICI Bank, HDFC Bank, Axis Bank and others started reducing their FD rates. In general, the bank offers FDs ranging from 7 days to 10 years.
IDFC First Bank
IDFC is offering a great interest rate of 4-8% on Fixed Deposits for different tenures. If a person makes a fixed deposit for one year then the bank is offering the interest rate of 8%. However, the Fixed Deposit amount should be below Rs 2 crores.
FD interest rates in the DCB Bank currently range between 5.40% to 8.00% for deposits. For the deposits with a maturity time of 3 years, the bank is offering a 8% interest rate.
Equitas Small Finance Bank
Chennai-based Equitas Small Finance Bank has been offering an interest rate of 5% to 8.3% to general public. Senior citizens get 0.60% extra over and above the normal FD rates. For Fixed Deposits maturing between 1 and 3 years get more than 8% of the interest.
1 year to 18 months-8.00%
18 months 1 day to 2 years-8.20%
2 years 1 day to 3 years-8.30%
Jana Small Finance Bank
Jana Small Finance Bank or Janalakshmi Financial Services Bank offers interest on fixed deposits ranging from 4.50% to 8.40%. Deposits maturing in 1 year will fetch you an interest of 8.00%.
1 year = 365 days-8.00%
> 1 year to < 2 years-8.25%
2 years to < 3 years-8.25%
3 years = 1095 days-8.40%
> 3 years - 5 years-8.25%