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Top 4 Private Sector Banks Offering Returns Over 6% On Fixed Deposits of 2 Years
A fixed deposit investment is ideal if you want to put your money in a place where you can earn fixed returns in the form of regular income. Fixed deposits have maturities ranging from 7 days to 10 years, making them an appealing investment option for achieving your short, medium, and long-term goals. The applicable interest rates are paid out on a cumulative, quarterly, and monthly basis, and the rate varies according to the tenure selected by you. Debt investors with a zero risk tolerance potential who want to earn higher returns in the short term, let's assume two years, here are the top three private sector banks offering risk-free rates of up to 6.50 percent on fixed deposits maturing in two years or less than 2 years.
RBL Bank
RBL Bank is currently providing the interest rates stated below for Domestic, NRO, NRE, and Flexi Fixed Deposits of less than Rs 3 Cr maturing in 2 years.
| Period of deposit | Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
|---|---|---|
| 7 days to 14 days | 3.25% | 3.75% |
| 15 days to 45 days | 3.75% | 4.25% |
| 46 days to 90 days | 4.00% | 4.50% |
| 91 days to 180 days | 4.50% | 5.00% |
| 181 days to 240 days | 5.00% | 5.50% |
| 241 days to 364 days | 5.25% | 5.75% |
| 12 months to less than 24 months | 6.00% | 6.50% |
| Source: Bank Website, W.e.f. September 01, 2021 |
IndusInd Bank
IndusInd Bank is now offering the following interest rates on Domestic/NRO/NRE/Senior Citizen Fixed Deposits maturing in two years.
| Tenure | Regular Interest Rates In % (p.a.) | Senior Citizen Interest Rates In % p.a. |
|---|---|---|
| 7 days to 14 days | 2.5 | 3 |
| 15 days to 30 days | 2.75 | 3.25 |
| 31 days to 45 days | 3 | 3.5 |
| 46 days to 60 days | 3.25 | 3.75 |
| 61 days to 90 days | 3.4 | 3.9 |
| 91 days to 120 days | 3.75 | 4.25 |
| 121 days to 180 days | 4.25 | 4.75 |
| 181 days to 210 days | 4.6 | 5.1 |
| 211 days to 269 days | 4.75 | 5.25 |
| 270 days to 354 days | 5.5 | 6 |
| 355 days to 364 days | 5.5 | 6 |
| 1 year to below 1 Year 6 Months | 6 | 6.5 |
| 1 Year 6 Months to below 1 Year 7 Months | 6 | 6.5 |
| 1 Year 7 Months to below 2 Years | 6 | 6.5 |
| Source: Bank Website, W.e.f. July 23rd, 2021 |
Yes Bank
On resident term deposits of less than Rs 2 crore maturing within the next two years. Depositors at Yes Bank can earn the interest rates as shown below.
| Period | Regular Interest Rates | Senior Citizen Interest Rates |
|---|---|---|
| 7 to 14 days | 3.25% | 3.75% |
| 15 to 45 days | 3.50% | 4.00% |
| 46 to 90 days | 4.00% | 4.50% |
| 3 months to < 6 months | 4.50% | 5.00% |
| 6 months to < 9 months | 5.00% | 5.50% |
| 9 months to < 1 Year | 5.25% | 5.75% |
| 1 year < 18 Months | 5.75% | 6.25% |
| 18 Months to < 3 years | 6.00% | 6.50% |
| Source: Bank Website, W.e.f 5th August 2021 |
Bandhan Bank
Bandhan Bank is providing the following interest rates on Retail Domestic / Non-Resident Rupee Term Deposits of less than Rs 2 Cr maturing in 2 years to both regular and senior persons.
| Period | Regular Interest Rates | Senior Citizen Interest Rates |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.75% |
| 15 days to 30 days | 3.00% | 3.75% |
| 31 days to Less than 2 months | 3.50% | 4.25% |
| 2 months to less than 3 months | 3.50% | 4.25% |
| 3 months to less than 6 months | 3.50% | 4.25% |
| 6 months to less than 1 year | 4.50% | 5.25% |
| 1 year to 18 months | 5.50% | 6.25% |
| Above 18 months to less than 2 years | 5.50% | 6.25% |
| Source: Bank Website, W.e.f. June 7, 2021 |
