Which bank offer higher 3 year FD interest rate
Which bank offer higher 3 year FD interest rate: If you’re looking to earn good returns by investing your savings in a safe place, this news is for you. Banks have currently raised interest rates on 3-year fixed deposits (FDs). Even small changes in interest rates can have a significant impact on your returns, especially if you’re investing a large amount or for a long period. Therefore, it’s important to know which bank is currently offering the highest interest on your FD.
Small finance banks are currently offering the highest interest rates to investors. Utkarsh Small Finance Bank has set the highest interest rate of 7.65% on a 3-year FD. Slice Small Finance Bank and Jana Small Finance Bank are following suit, offering 7.50% interest. Suryoday Small Finance Bank is offering 7.25% and AU Small Finance Bank is offering 7.10% interest. These banks only offer DICGC guarantees up to Rs 5 lakh, meaning your capital and interest are protected only up to this limit.
Among private sector banks, RBL Bank leads the pack, offering a 7.20% interest rate on a 3-year FD. This is followed by SBM Bank India at 7.10%. Bandhan Bank, Yes Bank, and DCB Bank offer 7%, while IndusInd Bank offers 6.90%, and ICICI Bank and Axis Bank offer 6.60%.
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