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Top 10 Banks Providing Higher Interest Rates On Fixed Deposits

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To address the economic consequences due to Covid-19 pandemic, the RBI maintained the Repo Rate unchanged at 4.00 percent on April 7, 2021. No adjustment in policy rates ensures high hopes for fixed deposit (FD) investors, as banks do not slash interest rates on FDs any further. Fixed deposits, also known as term deposits, are incredibly common in our country due to the guaranteed returns they offer. They are also remarkably easy to invest in, come in a variety of tenures and high liquidity. If you want to receive higher returns on your FDs, here is a list of the top ten banks in the country that are currently providing higher interest rates for deposit amount of less than Rs 2 Cr.

Jana Small Finance Bank

Jana Small Finance Bank

Jana Small Finance Bank FDs offer interest rates ranging from 2.5 percent to 7.51 percent for normal citizens and 3 percent to 8.01 percent for senior citizens for terms ranging from 7 days to 10 years. Furthermore, senior citizens get an additional 0.5 percent return on their deposits. The highest FD rate for a regular investor is 7.51 percent for a period of 1188 days to 1191 days. The senior citizen FD rate is 8.01 percent for the same tenure provided by the bank. The Jana Small Finance Bank FD rates listed below are effective from March 26, 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7-14 days 2.50% 3.00%
15-60 days 3.00% 3.50%
61-90 days 3.75% 4.25%
91-180 days 4.50% 5.00%
181-364 days 6.00% 6.50%
1 Year[365 Days] 6.75% 7.25%
366 - 730 Days 7.00% 7.50%
731 - 1095 Days 7.00% 7.50%
1096 - 1187 Days 7.25% 7.75%
[1188 Days - 1191 Days 7.51% 8.01%
1192 Days - 1824 Days 7.25% 7.75%
5 Years [1825 Days] 7.00% 7.50%
> 1826 - 3660 Days 6.50% 7.00%
Suryoday Small Finance Bank
 

Suryoday Small Finance Bank

The Suryoday Bank FD rate varies from 4% to 7.25 % for general customers and 4.5 % to 7.75 % for senior citizens, based on the maturity period. The bank offers the highest interest rate on deposits maturing in five years. These deposits will offer 7.25 percent and 7.75 percent interest to the general public and senior citizens, respectively. Suryoday Bank's most recent FD interest rates are in effect from 15 February 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 4.00% 4.50%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 5.00% 5.50%
91 days to 6 months 5.50% 6.00%
Above 6 months to 9 months 6.00% 6.50%
Above 9 months to less than 1 Year 6.25% 6.75%
1 Year to 2 years 6.75% 7.25%
Above 2 Years to 3 Years 7.00% 7.50%
Above 3 Years to less than 5 Years 7.10% 7.60%
5 Years 7.25% 7.75%
Above 5 years to 10 years 6.50% 7.00%
Equitas Small Finance Bank

Equitas Small Finance Bank

Equitas Small Finance Bank offers 3.60 percent and 3.65 percent interest on FDs maturing in 7 to 29 days and 30 - 45 days, respectively. 4.15 percent for 46-90 days and 4.90 percent for 91-180 days. The bank offers 5.4 percent interest on term deposits maturing in 181-364 days. Equitas Bank offers 6.4 percent on FDs maturing in one to two years. 6.65 percent for deposits from 2 years and 1 day to 887 days. The bank's highest interest rate on domestic fixed deposits for the general public is 6.80 percent for a term of 888 days. FDs maturing in 889 days to 3 years will grant a 6.65 percent interest rate. The Equitas Small Finance Bank FD rates mentioned below are in force from 25th January 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 - 14 days 3.60% 4.10%
15 - 29 days 3.60% 4.10%
30 - 45 days 3.65% 4.15%
46 - 62 days 4.15% 4.55%
63 - 90 days 4.15% 5.55%
91 - 120 days 4.90% 5.40%
121 - 180 days 4.90% 5.40%
181 - 210 days 5.40% 5.90%
211 - 270 days 5.40% 5.90%
271 - 364 days 5.40% 5.90%
1 year to 18 months 6.50% 7.00%
18 months 1 day to 2 years 6.40% 6.90%
2 years 1 day to 887 days 6.65% 7.15%
888 days 6.80% 7.30%
889 days to 3 years 6.65% 7.15%
3 years 1 day to 4 years 6.40% 6.90%
4 years 1 day to 5 years 6.40% 6.90%
5 years 1 day to 10 years 6.65% 7.15%
Yes Bank

Yes Bank

Yes Bank offers fixed deposit schemes with terms ranging from 7 days to 10 years. Following the most recent revision, Yes Bank now proposes an interest rate of 3.50 percent on deposits maturing in seven to fourteen days, 4 percent on deposits maturing in 15 to 45 days, and 4.5 percent on FDs maturing in 46 to 90 days. Yes Bank offers 5%, 5.50%, and 6% on term deposits maturing in 3 months to less than 6 months and 6 months to less than 9 months, respectively. The bank offers a 5.75 percent interest rate on FDs for a term ranging from 9 months to less than 1 year. Yes Bank offers both regular and senior citizens a special interest rate on FDs maturing in one year to ten years. Term deposits maturing in one year or less than two years will provide a 6.25 percent interest rate and 6.50 percent for deposit maturing in 2 to 3 years. For deposits maturing in 3 to 10 years the interest rate is kept at 6.75 percent respectively. These rates are in force from 8th February 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 to 14 days 3.50% 4.00%
15 to 45 days 4.00% 4.50%
46 to 90 days 4.50% 5.00%
3 months to < 6 months 5.00% 5.50%
6 months to < 9 months 5.50% 6.00%
9 months to < 1 Year 5.75% 6.25%
1 year < 2 years 6.25% 6.75%
2 years < 3 years 6.50% 7.00%
3 Years to <= 10 years 6.75% 7.50%
Ujjivan Small Finance Bank

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank offers interest rates of 3.05 percent, 4.05 percent, and 4.80 percent for terms of 7-29 days, 30-89 days, and 90-179 days, respectively. The bank pays 5.20 percent interest on deposits maturing in 180 to 364 days. Small Finance Bank pays 6.5 percent interest on deposits maturing in one to two years. The bank offers the highest rate of 6.75 percent on deposits maturing in 2 Years and 1 Day to 3 Years to 3 Years and 1 Day to 5 Years. These rates are in force from 5th March 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 Days to 29 Days 3.05% 3.55%
30 Days to 89 Days 4.05% 4.55%
90 Days to 179 Days 4.80% 5.30%
180 Days to 364 Days 5.20% 5.70%
1 Year to 2 Years 6.50% 7.00%
2 Years and 1 Day to 3 years 6.75% 7.25%
3 Years and 1 Day to 5 Years 6.75% 7.25%
5 Years and 1 Day to 10 Years 5.80% 6.30%
DCB Bank

DCB Bank

For regular citizens, DCB Bank fixed deposit interest rates vary from 4.725 percent to 6.75 percent. DCB fixed deposit rates for senior citizens vary from 4.75 percent to 7.25 percent. The tenure ranges from 7 days to 10 years. DCB Bank's highest fixed deposit interest rate is 6.75 percent for a regular investor with a term of 5-10 years. The senior citizen FD rate of interest is 7.25 percent for the same term. These rates are effective from 5th February 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 4.25% 4.75%
15 days to 45 days 4.80% 5.30%
46 days to 90 days 4.75% 5.25%
91 days to less than 6 months 5.50% 6.00%
6 months to less than 12 months 5.95% 6.45%
12 months to less than 15 months 6.05% 6.55%
15 months to less than 18 months 6.35% 6.85%
18 months to less than 700 days 6.50% 7.00%
700 days 6.70% 7.20%
More than 700 days to less than 36 months 6.50% 7.00%
36 months 6.75% 7.25%
More than 36 months to 60 months 6.75% 7.25%
RBL Bank

RBL Bank

For deposits with a maturity period of 7 days to 20 years, RBL Bank offers interest rates ranging from 3.25% to 6 percent per annum (p.a.). RBL Bank pays 3.25 percent on deposits that mature in 7-14 days, 4.00 percent on deposits that mature in 15-45 days, and 4.50 percent on deposits that mature in 46-90 days. 5.00 percent interest is paid on FDs that mature in 91 days to 180 days, and 5.25 percent interest is paid on deposits that mature in 180 days to 240 days. On maturity between 241 and 364 days, RBL Bank offers a 5.50 percent interest rate. These rates are w.e.f April 12, 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 3.25% 3.75%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 4.50% 5.00%
91 days to 180 days 5.00% 5.50%
181 days to 240 days 5.25% 5.75%
241 days to 364 days 5.50% 6.00%
12 months to less than 24 months 6.25% 6.75%
24 months to less than 36 months 6.25% 6.75%
36 months to less than 60 months 6.40% 6.90%
60 months to 60 months 1 day 6.60% 7.10%
60 months 2 days to less than 120 months 6.00% 6.50%
120 months to 240 months 6.00% 6.50%
Tax Savings Fixed Deposit (60 months) 6.60% 7.10%
IndusInd Bank

IndusInd Bank

IndusInd Bank provides 3.00 percent on deposits maturing in 7 to 30 days, 3.40 percent on deposits maturing in 30 to 45 days, 3.75 percent on deposits maturing in 46 to 60 days, and 4.00 percent on deposits maturing in 61 to 90 days. FDs maturing in 91 days to 120 days will yield 4.25 percent, while those maturing in 121 days to 180 days will provide 4.5%, and those maturing in 181 days to 210 days will fetch 5.25 percent. IndusInd Bank offers a 5.5 percent interest rate on FDs maturing in 211 days to 269 days, and a 5.75 percent interest rate on FDs maturing in 270 days or less than a year. These rates are in force from December 30th, 2020.

Tenure Regular FD Rates in % Senior Citizen FD Rates in %
7 days to 14 days 3 3.5
15 days to 30 days 3 3.5
31 days to 45 days 3.4 3.9
46 days to 60 days 3.75 4.25
61 days to 90 days 4 4.5
91 days to 120 days 4.25 4.75
121 days to 180 days 4.5 5
181 days to 210 days 5.25 5.75
211 days to 269 days 5.5 6
270 days or below 1 year 5.75 6.25
1 Year to 1 Year 2 Days 6.5 7
1 Year 3 Days to 1 Year 2 Months 6.5 7
Above 1 Year 2 Months to below 1 Year 6 Months 6.5 7
1 Year 6 Months to below 1 Year 7 Months 6.5 7
1 Year 7 Months to below 2 Years 6.5 7
2 years to below 2 years 6 Months 6.5 7
2 years 6 months to below 2 years 9 Months 6.5 7
2 years 9 months to below 3 years 6.5 7
3 years to below 61 months 6.5 7
61 months and above 6.25 6.75
Indus Tax Saver Scheme (5 years) 6.5 7
AU Small Finance Bank

AU Small Finance Bank

For general depositors, AU Small Finance Bank provides interest rates ranging from 3.50 percent to 6.50 percent on FDs maturing in 7 days to 10 years. AU Small Finance Bank proposes a 3.5 percent interest rate on maturities ranging from seven days to one month and fifteen days. The bank pays 4.00 percent interest on FDs maturing in one month (16 days to 3 months). Deposits maturing in three months, one day to six months, and six months, one day to twelve months will earn 4.75 percent and 5.25 percent interest, respectively. These rates are in force from April 1 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 Days to 1 Month 15 Days 3.50% 4.00%
1 Month 16 Days to 3 Months 4.00% 4.50%
3 Months 1 Day to 6 Months 4.75% 5.25%
6 Months 1 Day to 12 Months 5.25% 5.75%
12 Months 1 Day to 15 Months 6.35% 6.85%
15 Months 1 Day to 18 Months 6.25% 6.75%
18 Months 1 Day to 24 Months 6.25% 6.75%
24 Months 1 Day to 36 Months 6.50% 7.00%
36 Months 1 Day to 45 Months 6.25% 6.75%
45 Months 1 Day to 60 Months 6.25% 6.75%
60 Months 1 Day to 120 Months 6.50% 7.00%
Fincare Small Finance Bank

Fincare Small Finance Bank

Fincare Small Finance Bank provides term deposits with interest rates varying from 3.25% to 5.5% for the general public and 3.70 percent to 6.00 percent for senior citizens, with terms ranging from 7 days to 7 years. Fincare Small Finance Bank pays 5% interest on deposits that mature in less than a year. For 12 months to 18 months, 6 percent, 18 months to 21 months 6.25%, 21 months to 24 months 6.25 percent, and 24 months to 30 months 6.50 percent. For deposits maturing in 36 months, 1 day to 42 months, Fincare Small Finance Bank offers the maximum interest rate of 6.75%. These rates are in effect from April 1, 2021.

Tenure Regular FD Rates in % Senior Citizen FD Rates in %
7 days to 45 days 3.00% 3.50%
46 days to 90 days 3.25% 3.70%
91 days to 180 days 3.50% 4.00%
181 days to 364 days 5.00% 5.50%
12 months to 15 months 6.00% 6.50%
15 months 1 day to 18 months 6.00% 6.50%
18 months 1 day to 21 months 6.25% 6.75%
21 months 1 day to 24 months 6.25% 6.75%
24 months 1 day to 30 months 6.50% 7.00%
30 months 1 day to 36 months 6.50% 7.00%
36 months 1 day to 42 months 6.75% 7.25%
42 months to 48 months 6.50% 7.00%
48 months 1 day to 59 months 6.50% 7.00%
59 months 1 day to 66 months 6.00% 6.50%
66 months 1 day to 84 months 5.50% 6.00%
Read more about: fd fixed deposit investment
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