Bank Fixed Deposit (Bank FD) has always been considered the most preferred mode of investment among the common people. The biggest reason for this is that there is no risk of any kind in bank FD.
A major advantage of bank FDs is that through this, tax exemption can be claimed on investments up to Rs 1.5 lakh under section 80C of the Income Tax Act. However, despite this many times people used to complain that the interest received on bank FD is very less. But now almost all the banks have removed this problem of the customers.
Almost all the big banks and small finance banks present in India have announced to increase the interest rates on FDs. In such a situation, let us have a look at those small and big banks which are giving the benefit of very good interest rates to their customers.
DCB Bank
A leading private sector bank, DCB Bank is offering its customers the benefit of very attractive interest rates on Fixed Deposit schemes. DCB Bank is giving the benefit of 7.6 percent interest rate on FD to the customers. Please tell that this interest rate is included in the highest interest rates offered by private banks. If you invest Rs 1.5 lakh in this bank for five years, it will grow to Rs 2.19 lakh.
Suryoday Small Finance Bank
Suryoday Small Finance Bank is also offering its customers the benefit of very attractive interest rates on Fixed Deposits. Suryoday Small Finance Bank is currently offering fixed deposit interest at the rate of 7.5 per cent to its customers. If you deposit Rs 1.5 lakh as FD here, it will grow to Rs 2.17 lakh in five years.
IndusInd Bank
IndusInd Bank is included in the list of banks where customers are being given the benefit of the highest interest rate on fixed deposits. IndusInd Bank is offering its customers an interest rate of 7.25 per cent on FD. If you invest Rs 1.5 lakh in this bank, then this amount will increase to Rs 2.15 lakh in five years.
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank and AU Small Finance Bank are also included in the list of banks where the benefit of the best interest rate is available. This bank is offering an interest rate of 7.2 per cent to its customers on FD. If you invest Rs 1.5 lakh in this bank, you will get a return of Rs 2.14 lakh after five years.
Deutsche Bank
Deutsche Bank is also offering its customers very attractive interest rates on FDs. This bank is currently offering an interest rate of 7% to its customers on FD scheme. Let us tell you that this interest rate is the highest among all the foreign banks operating in India. If you invest Rs 1.5 lakh in this bank, then after five years this amount will become Rs 2.12 lakh.
