Compare Top FD Interest Rates: NBFCs Vs Banks

Highest FD Interest Rates

Fixed deposits (FDs) offer guaranteed returns. You deposit a lump sum and receive interest over time. FDs have various terms and rates. Popular terms are 1-year, 3-year, and 5-year. A 5-year FD offers tax benefits on deposits up to Rs 1.50 lakh annually.

Both banks and non-banking finance companies (NBFCs) provide FDs. NBFCs typically offer slightly higher rates than banks. Here are the top FD rates offered by NBFCs, according to Paisabazaar.com.

Unity Small Finance Bank

Unity Small Finance Bank offers the highest interest rate of 9% for its 1001-day FD. For its 1-year FD, the rate is 7.85%. The 3-year and 5-year FDs both offer 8.15%.

NBFC Rates

This NBFC offers its best rate of 8.65% for a two-year, two-day FD. The 1-year FD has a rate of 6.85%. The 3-year FD offers 8.60%, and the 5-year FD gives 8.25%.

Another NBFC offers 8.50% for its 2-year, 3-year, and 1500-day FDs. The 1-year FD rate is 8.00%. The 3-year and 5-year FDs offer 8.50% and 7.75%, respectively.

One NBFC offers 8.50% for a 15-month FD. The 1-year FD rate is 8.25%. The 3-year and 5-year FDs both offer 7.20%.

Another NBFC offers 8.50% for its 555-day and 1,111-day FDs. The 1-year FD rate is 7.75%. The 3-year and 5-year FDs offer 8.00% and 6.25%, respectively.

One NBFC offers its top rate of 8.50% for a 365-day FD. The 3-year and 5-year FDs each offer 7.25%.

Another NBFC offers 8.50% for a 444-day FD. The 1-year FD rate is 8.20%. The 3-year FD offers 8.00%, while the 5-year FD gives 7.25%.

Investing in FDs with NBFCs can be beneficial due to higher interest rates compared to banks. Always consider FD terms and tax benefits when choosing where to invest.