Fixed Deposit: Fixed Deposit is considered the safest option for investment. To invest in this, most investors expect that they get maximum interest. Especially senior citizens look for such options where maximum interest is paid and their money is safe. Here we are telling you about the private sector banks where the highest interest is getting on FD.
The Reserve Bank of India (RBI) has not made any change in the repo rate in the last one year. It is close to 4 per cent now. Due to this most of the banks reduced the FD rates. Interest earned on FD is taxable, so it reduces the benefit of return on FD.
If you are planning to invest in FD, then here are 10 private banks which are offering high interest. These rates are the interest rates for FDs below Rs 1 crore and with tenures of five years. Senior citizens get 50 basis points more interest.
This bank is giving so much interest
1 DBS Bank – 5.70-6.50 per cent
2 Indusend Bank – 5.50-6.50 per cent
3 RBL Bank – 5.40-6.50 per cent
4 Yes Bank – 5.25-6.50 per cent
5 TNSC Bank – 5.75-6.00 percent
6 IDFS First Bank – 5.25-6.00 percent
7 Karur Vysya Bank – 4.25-6.00 percent
8 Axis Bank – 4.40-5.75 per cent
9 South Indian Bank – 4.50-5.65 percent
