Today, saving money and investing for the future has become a concern for everyone. It is important to keep money in a place where it will be safe and generate a good return. In this case, fixed deposits remain the first choice for many people. For those who prefer to avoid risks, bank FDS are the most reliable investment option.
However, some questions remain: Which bank offers the highest interest on a three-year FD? Don’t worry, we’ll answer that question in today’s article. We’ll discuss the five top banks offering the highest interest rates on 3-year FD schemes. Let’s take a detailed look at the fixed deposit options from these banks.
State Bank of India
The country’s largest state-owned bank, State Bank of India, offers 6.75% interest on three-year FDs for its customers. Yes, you read that right. The interest rate for senior citizens in this scheme is up to 7.25%. Many people prefer this fixed deposit from State Bank due to its safe investment and reliability.
Bank of Baroda
Bank of Baroda offers 7.15% interest on three-year FDs for its customers. For senior citizens, this interest rate goes up to 7.65%. If you’re looking for a slightly higher return, this bank’s fixed deposit could be a great choice.
IDFC First Bank
IDFC First Bank offers 6.8% interest on 3-year FDs for general customers and 7.3% interest for senior citizens. While this is a relatively new FD scheme, the bank is offering a good interest rate.
HDFC Bank
One of the largest private banks in the country, HDFC offers 7% interest on three-year FDs for general customers. It also offers 7.5% interest for senior citizens. Many people prefer HDFC Bank’s fixed deposit for its reliable service and good interest rates.
Union Bank of India
Union Bank of India offers 6.7% interest on its three-year fixed deposit scheme for general customers and 7.2% interest for senior citizens. This can be a good option for those who want a safe investment with a higher interest rate.
Final Thoughts
These banks are now the best places for fixed deposits. So, if you’re looking to invest in a three-year FD for the long term, you can confidently choose the fixed deposit schemes from these banks. After three years, you’ll see a significant return on your investment.
