Bank FD Rates: Today, on 7 April, the Sensex of the stock market fell by 3,900 points and Nifty by 1,400 points. This was a black Monday for the stock market. At the same time, due to the reduction of repo rate by RBI, most banks are also reducing interest on FD.
Recently HDFC Bank, Yes Bank, Punjab and Sindh Bank and Bank of Baroda have reduced the interest rate on FD. RBI’s three-day meeting has started today. It is expected that RBI can reduce the repo rate once again. If this happens, then banks can reduce the interest on FD again. In such a situation, where should investors invest? Here we are telling you about those banks which are offering 8% interest on FD.
These banks are offering 8% interest
Many banks in India are offering fixed deposits (FD) at 8% or more interest rates. This will give investors a chance to get better returns on their savings. These include small finance banks, some private sector banks and foreign banks.
Small Finance Bank: These banks are offering the highest interest on FD
- Northeast Small Finance Bank: Interest rate up to 9% for a period of 18 months to 36 months.
- Suryoday Small Finance Bank: 8.60% interest rate for a period of 5 years.
- Ujjivan Small Finance Bank: 8.25% interest rate for a period of 2 to 3 years.
- Jana Small Finance Bank: 8.25% interest rate for a period of 2 to 3 years.
- Equitas Small Finance Bank: 8.25% interest rate for a period of 888 days.
- Unity Small Finance Bank: 8.60% interest rate for a period of 2 to 3 years.
- Utkarsh Small Finance Bank: 8.50% interest rate for a period of 2 to 3 years.
Private Sector Banks
- Bandhan Bank: 8.05% interest rate for general customers and 8.55% for senior citizens on FD of 1 year.
- RBL Bank: 8.00% interest rate for general customers and 8.50% for senior citizens on FD of 500 days.
Foreign Banks
- Deutsche Bank is also offering 8% interest rate for a period of 1 to 3 years.
Public Sector Banks
Among the public sector banks, Central Bank of India and Bank of Baroda are offering interest rates up to 7.50% on FDs of certain fixed periods. Whereas other banks are offering interest rates ranging between around 7.00% to 7.30%.
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