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5 Best 1-3 Year Fixed Deposits To Invest
Fixed deposits in banks are considered to be among the safest investment alternatives since they are not affected by market fluctuations. Investors can put a large sum of money into a fixed deposit, which provides guaranteed returns in the form of interest rates. Investors have the option of receiving their payouts in a variety of ways. For example, if an investor wants the money to satisfy their regular expenditures, he or she can select the non-cumulative option or can have the principal amount plus interest at the time of maturity through the cumulative option. Normally fixed deposits come with a tenure starting from 7 days to 10 years. But if you have short term goals and want to invest in fixed deposits, let's say about 1 to 3 years, then you are in the right place. Here we have compiled the top 5 banks which are currently giving higher interest rates on 1 to 3 year fixed deposits.
1 Year Fixed Deposits
Below are the top 5 banks which are currently promising higher returns in 1 year fixed deposits for a deposit amount of less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| IndusInd Bank | 6.50% | 7.00% | 26.04.2021 |
| Ujjivan Small Finance Bank | 6.50% | 7.00% | 05.03.2021 |
| Equitas Small Finance Bank | 6.50% | 7.00% | 25.01.2021 |
| Suryoday Small Finance Bank | 6.25% | 6.75% | 15.02.2021 |
| RBL Bank | 6.25% | 6.75% | 07.05.2021 |
| Source: Bank Websites |
2 Year Fixed Deposits
The top 5 banks now offering higher returns on two-year fixed deposits for a deposit amount of less than Rs 2 crore are listed below.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Suryoday Small Finance Bank | 6.75% | 7.25% | 15.02.2021 |
| IndusInd Bank | 6.50% | 7.00% | 26.04.2021 |
| Ujjivan Small Finance Bank | 6.50% | 7.00% | 05.03.2021 |
| Jana Small Finance Bank | 6.50% | 7.00% | 07.05.2021 |
| Equitas Small Finance Bank | 6.40% | 6.90% | 25.01.2021 |
| Source: Bank Websites |
3 Year Fixed Deposits
The top five banks that are currently giving higher returns on three-year fixed deposits for deposits under Rs 2 crore are given below.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Suryoday Small Finance Bank | 7.00% | 7.50% | 15.02.2021 |
| Ujjivan Small Finance Bank | 6.75% | 7.25% | 05.03.2021 |
| Equitas Small Finance Bank | 6.65% | 7.15% | 25.01.2021 |
| DCB Bank | 6.50% | 7.00% | 15.05.2021 |
| IndusInd Bank | 6.50% | 7.00% | 26.04.2021 |
| Source: Bank Websites |
