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Top 10 Bank Promising Best Interest Rates On 1-Year Fixed Deposits In 2021

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No matter if you are investing for short-term, mid-term, or long-term, investing in fixed deposits of banks, post office, or corporates gives you the flexibility to meet all types of personal financial goals. When it comes to making investments for the short-term let's say for 1-Year, investing in savings accounts, recurring deposits, debt instruments, treasury securities, money market funds, and so on can be the best bet. But for short-term investments, debt instruments are the best fit for your portfolio. As no one will want to take risks in the short term, investing in fixed deposits is the most preferred bet to invest under the debt category for assured returns and also for the benefit of insurance cover provided by DICGC. So if you are an investor with a low-risk appetite and want to invest for 1-year or less than 1-Year, here are the top 10 banks that are promising the best interest rates on fixed deposits (below Rs 2 Cr) in 2021.

 

Top 10 Private Banks Offering Higher Returns On 1-Year Fixed Deposits In 2021

Top 10 Private Banks Offering Higher Returns On 1-Year Fixed Deposits In 2021

Based on higher returns for both regular and senior citizens, here we have compiled the top 10 private sector banks that are currently promising best interest rates on 1-year fixed deposits.

Sr No.BanksRegular FD RatesSenior Citizen FD RatesW.e.f.
1 RBL Bank 6.10% 6.60% July 2, 2021
2 IndusInd Bank 6.00% 6.50% July 23, 2021
3 DCB Bank 5.70% 6.20% May 15, 2021
4 Yes Bank 5.25% 5.75% June 3, 2021
5 IDFC First Bank 5.25% 5.75% May 1, 2021
6 HDFC Bank 4.90% 5.40% May 21, 2021
7 Bandhan Bank 4.50% 5.25% June 7,2021
8 Kotak Mahindra Bank 4.50% 5.00% July 23,2021
9 ICICI Bank 4.40% 4.90% October 21,2020
10 Axis Bank 4.40% 4.65% June 6, 2021
Source: Bank Websites

Top 10 Public Sector Banks Promising Higher Returns On Fixed Deposits For 1-Year
 

Top 10 Public Sector Banks Promising Higher Returns On Fixed Deposits For 1-Year

Here are our hand-picked top 10 commercial banks that are currently promising higher interest rates on 1-year fixed deposits in 2021.

Sr No.BanksRegular FD RatesSenior Citizen FD RatesW.e.f.
1 Canara Bank 5.20% 5.70% 08.02.2021
2 Punjab & Sind Bank 5.15% 5.65% 16.05.2021
3 Punjab National Bank 5.10% 5.60% 01.05.2021
4 Union Bank of India 5.00% 5.50% 09.07.2021
5 Indian Bank 5.00% 5.50% 05.02.2021
6 IDBI Bank 5.00% 5.50% July 14, 2021
7 Bank of Baroda 4.90% 5.40% 16.11.2020
8 Indian Overseas Bank 4.90% 5.40% 09.11.2020
9 Central Bank of India 4.90% 5.40% 10.07.2021
10 State Bank of India 4.40% 4.90% 08.01.2021
Source: Bank Websites

Top 10 Small Finance Banks Offering Higher Returns On 1-Year FDs In 2021

Top 10 Small Finance Banks Offering Higher Returns On 1-Year FDs In 2021

Keeping deposit security up to Rs 5 lakh provided by DICGC and higher interest rates in mind, here we have picked up the top 10 small finance banks that are promising higher returns on 1-year fixed deposits.

Sr No.BanksRegular FD RatesSenior Citizen FD RatesW.e.f.
1 Ujjivan Small Finance Bank 6.50% 7.00% March 5, 2021
2 ESAF Small Finance Bank 6.50% 7.00% 02.05.2021
3 Equitas Small Finance Bank 6.35% 6.85% June 1, 2021
4 Jana Small Finance Bank 6.25% 6.75% 07.05.2021
5 Utkarsh Small Finance Bank 6.25% 6.75% July 1, 2021
6 Suryoday Small Finance Bank 5.75% 5.75% June 21, 2021
7 Fincare Small Finance Bank 5.60% 6.10% May 17, 2021
8 Capital Small Finance Bank 5.10% 5.60% June 3, 2021
9 AU Small Finance Bank 5.00% 5.50% June 23, 2021
10 North East Small Finance Bank 5.00% 5.50% April 19, 2021
Source: Bank Websites

Read more about: fd fixed deposit investment
Story first published: Tuesday, July 27, 2021, 11:21 [IST]
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