Recently, the country’s most popular investment instrument, ‘Fixed Deposit (FD)’, has seen a significant drop in interest rates. The reduction in the Repo Rate by the Reserve Bank of India (RBI) has contributed significantly to this. Because of this, major banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Indian Bank, Bank of Baroda, and Canara Bank had reduced interest rates by 10-15 basis points. However, despite this decline, some banks are still offering very attractive interest rates. If you want to grow your hard-earned money safely, then investing in these banks can be beneficial for you.
Which banks are offering the most attractive interest rates
Here is a list of banks that are currently offering very good interest rates:
Equitas Small Finance Bank
This bank is offering the highest interest rate of 7.60 percent for 888 days. Apart from this, 7.25 percent for 1 year, 7.25 percent for 3 years, and 7 percent interest rate for 5 years are available.
ESAF Small Finance Bank
This bank is offering the highest interest rate of 7.60 percent for 444 days. At the same time, a 4.75 percent interest rate will be available for 1 year, a 6 percent interest rate for 3 years, and a 5.75 percent interest rate will be available on a 5-year FD.
Jana Small Finance Bank
This bank is offering the highest interest rate of 8.20 percent on its 5-year FD. Additionally, the bank is offering an interest rate of 7.50 percent for 1 year and 7.75 percent for 3 years.
Slice Small Finance Bank
This bank is offering an attractive interest rate of 8.50 percent for a period of 18 months 1 day to 18 months 2 days. Apart from this, 6.75 percent for 1 year, 8.25 percent for 3 years, and 7.75 percent interest rate are available on a 5-year FD.
Suryoday Small Finance Bank
This bank is offering the highest interest rate of 8.40 percent on a 5-year FD. Apart from this, Suryoday Small Finance Bank is offering an interest rate of 7.50 percent for 1 year and 8.15 percent for 3 years.
Ujjivan Small Finance Bank
This bank is offering an interest rate of 7.75 percent on 2-year FDs. Additionally, a 7.65 percent interest rate is available for 1 year, 7.20 percent for 3 years, and a 7.20 percent interest rate is available on 5-year FDs.
Unity Small Finance Bank
This bank is offering the highest interest rate of 7.75 percent on 1001-day FDs. Apart from this, a 6.50 percent interest rate is available for 1 year, 7.25 percent for 3 years, and a 7.25 percent interest rate is available on 5-year FDs.
Utkarsh Small Finance Bank
This bank is offering 8 percent interest on 2 to 3-year FDs. Additionally, a 6.25 percent interest rate is available for 1 year, and a 7.50 percent interest rate is available on 5-year FDs.
Bandhan Bank
This bank is offering the highest interest rate of 7.40 percent on FDs of 2 to 3 years. Apart from this, a 7.25 percent interest rate is available for 1 year, 7.25 percent for 3 years, and a 5.85 percent interest rate is available on 5 5-year FD.
CSB Bank
This bank is offering an interest rate of 7.40 percent on 13 13-month FD. Apart from this, a 5 percent interest rate is available for 1 year, 5.75 percent for 3 years, and a 5.75 percent interest rate is available on 5 5-year FDs.
DCB Bank
This bank is offering an interest rate of 7.40 percent on FDs of 25 to 26 months. Apart from this, a 7 percent interest rate is available on 1 year, 7 percent on 3 years, and 7 percent interest rate is available on 5-year FD.
Indian Bank
This bank is offering the highest interest rate of 6.90 percent for 444 days. Apart from this, a 6.10 percent interest rate is available on 1-year, 6.25 percent on 3 years, and a 6 percent interest rate is available on 5-year FD.