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Top 5 Banks Promising Best Interest Rates On 1-Year FDs In 2021
Fixed deposits are widely favored not only for interest income but also for deposit security among investors with a low-risk profile and those saving to fulfill short-term goals, maybe one year. Regardless of any changes on the banks' FD interest rates in the interim, the interest rates of FDs placed by you stay unchanged until maturity. Apart from the assured return benefits, a deposit maintained with a scheduled bank is also insured up to Rs 5 lakhs by DICGC which is a subsidiary of the Reserve Bank of India (RBI). So if you as an investor want to begin your investment journey with assured returns of fixed deposits bundled with capital security, here are the top 5 banks promising the best interest rates on 1-year fixed deposits.
Top 5 Small Finance Banks With Good Returns Up To 7.00% On 1-Year FD
For deposits less than Rs 2 Cr, here are the top 5 small finance banks promising the best interest rates on 1-year FD.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Ujjivan Small Finance Bank | 6.50% | 7.00% | March 5, 2021 |
| ESAF Small Finance Bank | 6.50% | 7.00% | May 2, 2021 |
| Suryoday Small Finance Bank | 6.50% | 6.75% | June 21, 2021 |
| Utkarsh Small Finance Bank | 6.25% | 6.75% | July 1, 2021 |
| Jana Small Finance Bank | 6.25% | 6.75% | May 7, 2021 |
| Source: Banks Websites |
Top 5 Private Banks Promising Best Interest Rates On 1-Year FDs
Here are the top 5 private sector banks offering the best interest rates on 1-year FDs for deposits less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| RBL Bank | 6.10% | 6.60% | July 2, 2021 |
| Yes Bank | 6.00% | 6.50% | June 3, 2021 |
| IndusInd Bank | 6.00% | 6.50% | June 4, 2021 |
| DCB Bank | 5.80% | 6.30% | May 15, 2021 |
| Bandhan Bank | 5.50% | 6.25% | June 7, 2021 |
| Source: Banks Websites |
Top 5 Public Sector Banks Promising Best Interest Rates On 1-Year FDs
Here are the top five public sector banks that are now offering the best interest rates on 1-year fixed deposits of less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Canara Bank | 5.20% | 5.70% | 08.02.2021 |
| Indian Overseas Bank | 5.15% | 5.65% | 09.11.2020 |
| Punjab & Sind Bank | 5.15% | 5.65% | 16.05.2021 |
| Punjab National Bank | 5.10% | 5.60% | 01.05.2021 |
| IDBI Bank | 5.00% | 5.50% | July 14, 2021 |
| Source: Banks Websites |
Top 5 Foreign Banks Promising Best Interest Rates On 1-Year FDs
Here are the top 5 foreign banks offering the best interest rates on 1-year FDs for deposits less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Standard Chartered Bank | 5.30% | 5.80% | 23 July, 2021 |
| DBS Bank | 4.25% | 4.25% | 20.02.2021 |
| Deutsche Bank | 3.85% | 3.85% | 18.03.2021 |
| HSBC Bank | 3.10% | 3.60% | 26.11.2020 |
| Citi Bank | 2.75% | 3.25% | July 23, 2021 |
| Source: Banks Websites |
