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Top 5 Banks Offering Best Interest Rates On 3-Year Fixed Deposits In 2021
Fixed deposits are appropriate for you in the debt category if you are a risk-averse investor searching for consistent returns over a period ranging from 7 days to 10 years. Fixed income alternatives in the debt category, such as fixed deposits, provide consistency to your portfolio by offering guaranteed returns in both the short and long term. If you wish to invest for three years, you may choose from a variety of options such as savings accounts, liquid funds, gold investment, treasury bills, fixed maturity plans, and so on. However, among all of these alternatives, we prefer investing in fixed deposits for three years. The rationale for this is that you will not only receive higher assured returns but your deposits will also be insured by DICGC up to Rs 5 lakhs. So investors, especially senior citizens who want to invest for a short-term goal of 3 years, here are the top 5 banks promising higher interest rates on fixed deposits.
Top 5 Private Banks Offering Higher Interest Rates On 3-Year Fixed Deposits
For a deposit amount of less than Rs 2 Cr, here are the top 5 private sector banks offering the best interest rates on 3 years fixed deposits.
| Banks | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| DCB Bank | 6.50% | 7.00% |
| IndusInd Bank | 6.50% | 7.00% |
| RBL Bank | 6.10% | 6.60% |
| Yes Bank | 6.00% | 6.50% |
| IDFC First Bank | 5.75% | 6.25% |
| Source: Bank Websites |
Top 5 Public Sector Banks Promising Best Interest Rates On 3-Year Fixed Deposits
Here are the top 5 public sector banks giving the best interest rates on three-year fixed deposits for deposits of less than Rs 2 Crore.
| Banks | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| Union Bank of India | 5.40% | 5.90% |
| Canara Bank | 5.40% | 5.90% |
| Punjab & Sind Bank | 5.15% | 5.65% |
| Bank of Baroda | 5.10% | 5.60% |
| IDBI Bank | 5.10% | 5.60% |
| Source: Bank Websites |
Top 5 Small Finance Banks Providing Higher Interest Rates On 3-Year Fixed Deposits
Below are the top 5 small finance banks promising best interest rates on 3 years fixed deposits for a deposit amount of less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| Ujjivan Small Finance Bank | 6.75% | 7.25% |
| North East Small Finance Bank | 6.75% | 7.25% |
| Jana Small Finance Bank | 6.50% | 7.00% |
| Equitas Small Finance Bank | 6.35% | 6.85% |
| Suryoday Small Finance Bank | 6.25% | 6.50% |
| Source: Bank Websites |
