Want to invest your money safely? Here are the top fixed deposit offers from private Indian banks
Four private sector banks that are currently offering the highest returns on 3-year FDs
Fixed deposits have long been the most preferred form of investment for risk-averse investors. FDs allow you to keep your money safe with the bank while earning returns that are higher than the interest paid on savings deposits. With FD, you can keep a fixed amount for a fixed tenure ranging from 7 days to 10 years depending on your needs. You have the option to receive interest on your deposits either monthly or quarterly. Apart from this, you can also choose to reinvest your FD interest. However, FD interest has come down in recent years and investing for a longer period may not yield the expected results. Hence, now, more buyers are preferring to invest in short term FD plans, which can help them earn good returns without risking their hard earned money. If you too are looking for such FD plans, read on to know about four private sector banks that are currently offering the highest returns on 3-year FDs.
Bandhan Bank
Bandhan Bank FD returns start at 3 per cent for tenures of 7 to 14 days and go up to 5.5 per cent for deposits with tenures of 1 to 3 years. Senior citizens are entitled to an additional 0.75 per cent return on interest paid to ordinary investors
indusind bank
The FD interest rate offered by IndusInd Bank is 6 per cent for deposits between 1 to 3 years tenure. However, senior citizens get 0.5 per cent additional interest over the normal return.
Yes Bank
With FD interest starting at 3.25 per cent for tenures of 7 to 14 days, Yes Bank FD returns go up to 6 per cent for the 18 months to 3 years bracket. The interest rate for senior citizens is 6.50 percent. Apart from this, there is also an additional bonus of 0.14 per cent on the annual yield. All rates are applicable only on FDs of value less than Rs 2 crore.
RBL Bank
RBL Bank has recently revised its FD interest rates and with the new rates in action, the rate of return on the bank’s FD scheme for amounts below Rs 3 crore and tenure between 24 to 36 months is 6.00 per cent. is per year. Offering 0.50 percent additional interest to senior citizens.
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