Many small finance banks have an interest rate of up to 6.50 percent on one-year FDs. Let us know the best interest rates on one year FD.
Best FD Interest Rates: The Omicron variant of the corona virus has worried people around the world. It is important to build an emergency corpus in such situations. Despite falling interest rates, you can invest some of your money in Fixed Deposits (FDs). In many places, FDs with a tenor of one year also get a higher rate of return. While investing, it is important to do a thorough risk assessment and look at the banks.
Many small finance banks have an interest rate of up to 6.50 percent on one-year FDs. Let us know the best interest rates on one year FD.
Suryoday Small Finance Bank
This small finance bank has an interest rate of 6.50 percent on one year FD. Among small finance banks, it is getting the highest interest rate. If you invest Rs 1 lakh in this, it will become Rs 1.07 lakh in a year. It requires an investment of at least Rs 1,000.
Ujjivan Small Finance Bank
In Ujjivan Small Finance Bank, FD of one year is getting interest at the rate of 6 percent. If you invest one lakh rupees in this, within a year the money becomes 1.06 lakh rupees. A minimum investment of Rs 1,000 has to be made in this.
Equitas Small Finance Bank
This small finance bank has an interest rate of 5.85 percent on one year FD. By investing Rs 1 lakh in this, it will become Rs 1.06 lakh in a year.
AU Small Finance Bank
AU Small Finance Bank has an interest rate of 4.85 percent on one year FD. In this, the amount of Rs 1 lakh will become Rs 1.05 lakh after a period of one year. It requires a minimum investment of Rs 1,000.
Small finance banks offer higher interest rates than large private banks to attract new customers. The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI, gives guarantee on investments in fixed deposits up to Rs 5 lakh.
(Note: These interest rates are taken from the websites of these small finance banks.)
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