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Compare Your 3-5 Year Fixed Deposits Interest Rates
As it is widely known that on term deposits are reasonably risk-free and have a guaranteed return. The accumulated interest is added with the principal amount at maturity, and the net amount is returned to the account holder. Capital deposited in the Fixed Deposit Scheme is only for one time when the account is opened for a set period of time and interest earned on it is influenced by the type of bank, tenure and type of depositor. The amount deposited in a fixed deposit cannot be withdrawn until the maturity date, as the name suggests. A Fixed Deposit's term will be as short as seven days and as long as ten years and across the same tenure senior citizens get higher FD interest rates, which range from 0.25 per cent to 0.65 per cent higher than non-senior citizens. Here, we have compiled top small finance, public sector, and private sector banks that are currently providing higher returns on 3-5 year fixed deposits.
3-5 Year FD Rates of Small Finance Banks
Below are the top small finance banks that are currently providing higher interest rates on 3-5 year FDs.
| Banks | 3-year rates for non-senior citizens | 3-year rates for senior citizens | 5-year rates for non-senior citizens | 5-year rates for senior citizens |
|---|---|---|---|---|
| AU Small Finance Bank | 6.50% | 7.25% | 6.25% | 7.00% |
| Ujjivan Small Finance Bank | 6.75% | 7.25% | 6.75% | 7.25% |
| Fincare Small Finance Bank | 6.30% | 6.80% | 6.50% | 6.70% |
| Equitas Small Finance Bank | 6.65% | 7.15% | 6.40% | 6.90% |
| Jana Small Finance Bank | 7.51% | 8.01% | 7.00% | 7.50% |
3-5 Year FD Rates of Private Sector Banks
Below are the top 5 private sector banks currently offering higher interest rates on 3-5 year fixed deposits.
| Banks | 3-year rates for non-senior citizens | 3-year rates for senior citizens | 5-year rates for non-senior citizens | 5-year rates for senior citizens |
|---|---|---|---|---|
| DCB Bank | 6.75% | 7.25% | 6.75% | 7.25% |
| RBL Bank | 6.60% | 7.10% | 6.25% | 6.75% |
| Yes Bank | 6.50% | 7.00% | 6.75% | 7.50% |
| IndusInd Bank | 6.50% | 7.00% | 6.50% | 7.00% |
| Bandhan Bank | 5.50% | 6.25% | 5.50% | 6.25% |
3-5 Year FD Rates of Public Sector Banks
Below are the top 5 public sector banks currently offering higher interest rates on 3-5 year fixed deposits.
| Banks | 3-year rates for non-senior citizens | 3-year rates for senior citizens | 5-year rates for non-senior citizens | 5-year rates for senior citizens |
|---|---|---|---|---|
| Union Bank of India | 5.55% | 6.05% | 5.60% | 6.10% |
| Canara Bank | 5.50% | 6.00% | 5.50% | 6.00% |
| Bank of India | 5.30% | 5.80% | 5.30% | 5.80% |
| Punjab & Sind Bank | 5.30% | 5.80% | 5.30% | 5.80% |
| State Bank of India | 5.30% | 5.80% | 5.40% | 6.20% |
Note
An individual's deposits in a bank are secured by deposit insurance benefit. The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides it. This insurance benefit covers the deposits made at any commercial public banks, cooperative banks and small finance banks except corporates or company fixed deposits. The Reserve Bank of India's Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly-owned subsidiary. You are covered for up to Rs. 5 lakh for both principal and interest in a listed bank under this insurance benefit.
