Although there are many investment options available in the market today. But when it comes to guaranteed returns and safe investment, people prefer to invest in FD i.e. Fixed Deposit. If you are also thinking of investing in FD (Best FD Rate) then this is the right opportunity. Actually, currently seven banks are offering more than 9 percent interest on FD. Let’s know in the news below –
In the last two years, banks have continuously increased interest rates. This has made fixed deposit i.e. FD (FD Rate) investors very happy. Many small banks are giving up to 9.5 percent interest to senior citizens on three-year FDs. This news is very useful for those who want good returns with safe investment.
If you are also a senior citizen and want to make an FD of more than Rs 3 crore, then North East Small Finance Bank is giving you the highest interest of 9.5 percent. At the same time, Suryoday Small Finance Bank and Utkarsh Small Finance Bank are giving interest at the rate of 9.1 percent.
These rates are applicable on 3-year FDs
Apart from this, Jana Small Finance Bank is offering 8.75 percent, Unity Small Finance Bank 8.65 percent, Equitas Small Finance Bank 8.5 percent and AU Small Finance Bank 8 percent interest rate. All these rates are applicable on three-year FDs.
The thing to keep in mind here is that TDS is also deducted on the interest received from bank FD. If the annual interest exceeds Rs 40,000, then TDS will be deducted for common people. For senior citizens, this limit is Rs 50,000.
It is most important to keep this in mind
However, it is also important to be cautious while investing in small banks. Experts believe that the business model of small banks is different from big banks. In such a situation, the risk in them is also higher.
Therefore, while making FD in small banks, keep in mind that your total investment (including principal and interest) should not exceed Rs 5 lakh. This is because the Deposit Insurance and Credit Guarantee Corporation (DICGC) gives a guarantee of up to Rs 5 lakh only.
Overall, you can get more interest by making FD (Fixed Deposit Interest Rate) in small banks, but it is important that you consider all the aspects first. Invest according to your risk capacity.
