5 Safe Bank Fixed Deposits Where You Get A Solid 8% To 9% Interest

It's the right time for investors to look at bank fixed deposits as interest rates are on the rise. Having said that we believe that interest rates would continue to remain higher for longer as inflation remains deeply entrenched. Here are 5 bank fixed deposits that offer you a good 8% to 9% interest.

Unity Small Finance Bank Fixed Deposits

To begin with let us tell you that deposits of upto Rs 5 lakhs is insured. To that extent you can place money in these Fds, which is why are headline has said safe deposits. Unity Small Finance Bank offers an interest rate of 9% on fixed deposits of 1001-days and 9.5% for senior citizens. This is perhaps the best it gets from any small finance bank or commercial bank in the country.

IDFC Bank Fixed Deposits

IDFC Bank is a large commercial bank in the country and we do not see the possibility of a problem with safety of deposits. The good thing about the IDFC First Deposits is that a longer tenure like 3-years gives an interest rate of 7.75% on regular deposits and 8.25% for senior citizens. Since the longer term tenure have attractive interest rates we like the deposits. We would also advocate placing money for 3-years rather than 1 or 2 years.

Ujjivan Small Finance Bank

Like Unity, this is also a small finance bank. The bank offers an interest rate for domestic fixed Deposits and Sampoorna Nidhi of 8.25% for 80-weeks. The Platina deposits of Ujjivan offer a higher interest rate, but, here the minimum amount of deposit that is needed is Rs 15 lakhs. In the case of Platina Fixed Deposits the interest rates can go as high as 8.45%.

IndusInd Bank fixed deposits

Like IDFC First, this is also a large commercial bank with attractive interest rates. The maximum interest rate that senior citizens get is 8.25%, while regular depositors receive an interest rate of 7.75% on the deposits. We believe that the interest rates are very good when compared to most large commercial banks in the country.

PNB Fixed deposits

If you see the 666 days deposits, the super senior citizens get an interest rate of as high as 8.05%. On the other hand senior citizens receive an interest rate of 7.75% and regular depositors receive just 7.25%. This is a government bank and hence the deposits of the bank are safe. However, the interest given by PNB on the deposits for regular depositors is competitive, but not the best.