Top 5 Banks Promising Good Returns On Fixed Deposits of Up To 3 Years

The Reserve Bank of India (RBI) agreed not to modify the repo and reverse repo rates at its bi-monthly monetary policy meeting on August 6, 2021, hence the repo and reverse rates are still at 4% and 3.35 percent, respectively. In such a scenario, it is preferable to invest in fixed deposits for a short period of time, such as 1 to 3 years, rather than locking in with a low rate of return for the long-term such as 5 years. Undoubtedly it would be a wise step for both regular customers and older folks. Hence by keeping the same strategy and the deposit safety cover provided by DICGC in mind here we have picked up the top 5 banks that are now promising higher returns on fixed deposits of less than 3 years.

Ujjivan Small Finance Bank

With effect from 05.03.2021 Ujjivan Small Finance Bank is promising the following interest rates on deposits of less than Rs 2 Cr to both regular and senior citizens.

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%
Source: Bank Website

Jana Small Finance Bank

For deposits of less than Rs 2 Cr up to a tenure of 3 years, Jana Small Finance Bank is providing the below-listed interest rates with effect from 07.05.2021.

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	5.50%	6.00%
1 Year[365 Days]	6.25%	6.75%
More than 1 Year - 2 Years	6.50%	7.00%
More than 2 Years-3 Years	6.50%	7.00%
Source: Bank Website

DCB Bank

For a single deposit of less than Rs 2 Cr up to a maturity period of 3 years, here are the interest rates provided by DCB Bank to both regular and senior citizens.

Period	Regular FD Rates	Senior Citizen FD Rates
7 days to 14 days	4.55%	5.05%
15 days to 45 days	4.55%	5.05%
46 days to 90 days	4.50%	5.00%
91 days to less than 6 months	5.25%	5.75%
6 months to less than 12 months	5.70%	6.20%
12 months to less than 15 months	5.80%	6.30%
15 months to less than 18 months	6.00%	6.50%
18 months to less than 700 days	6.00%	6.50%
700 days	6.40%	6.90%
More than 700 days to less than 36 months	6.00%	6.50%
36 months	6.50%	7.00%
Source: Bank Website

North East Small Finance Bank

With effect from 19 April 2021 North East Small Finance Bank is promising the following interest rates on deposits of less than Rs 2 Cr for up to a tenure of 3 years.

Period	Regular FD Rates In %	Senior Citizen FD Rates In %
7-14 Days	3.00	3.50
15-29 Days	3.00	3.50
30-45 Days	3.00	3.50
46-90 Days	3.50	4.00
91-180 Days	4.00	4.50
181-365 Days	5.00	5.50
366 days to 729 days	6.75	7.25
730 days to less than 1095	6.75	7.25
777 days	7.00	7.50
1096 days to less than 1825 days	6.50	7.00
Source: Bank Website

Equitas Small Finance Bank

For a single deposit of less than Rs 2 Cr up to a tenure of 3 years, Equitas Small Finance Bank is offering the following interest rates to both regular and senior citizens.

Period	Regular FD Rates	Senior Citizen FD Rates
7 - 14 days	3.50%	4.00%
15 - 29 days	3.50%	4.00%
30 - 45 days	3.50%	4.00%
46 - 62 days	4.00%	4.50%
63 - 90 days	4.00%	4.50%
91 - 120 days	4.75%	5.25%
121 - 180 days	4.75%	5.25%
181 - 210 days	5.25%	5.75%
211 - 270 days	5.25%	5.75%
271 - 364 days	5.25%	5.75%
1 year to 18 months	6.35%	6.85%
18 months 1 day to 2 years	6.25%	6.75%
2 years 1 day to 887 days	6.35%	6.85%
888 days	6.50%	7.00%
889 days to 3 years	6.35%	6.85%
Source: Bank Website