InvestorQ : Which banks are offering higher interest rates on fixed deposits?
simran Kaur made post

Which banks are offering higher interest rates on fixed deposits?

Answer
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nishi Shah answered.
3 months ago


Bank fixed deposits are one of the most common investment avenues in India and people love to park their money where it is safe and provide legitimate returns. However, considering the coronavirus pandemic, rates have fallen sharply and investors are looking for banks that are offering interest rates better than the rest. These are top five banks offering comparatively better rates of return on their fixed deposits:

  1. DCB Bank: It tops our list of banks providing the highest interest rate on fixed deposits, which is 7.35% per annum. This is a private lender.
  2. IDFC First Bank: This bank is offering an interest rate of 7.25% per annum on fixed deposits.
  3. RBL Bank: It is offering an interest rate of 7.15% per annum on fixed deposits and is a private lender.
  4. YES Bank: It is offering an interest rate of 7% per annum on its fixed deposits.
  5. IndusInd Bank: This bank is offering an interest rate of 6.75% per annum.
Most of the banks providing higher interest rates are private lenders. So, one should make FDs with any of these banks only after thoroughly assessing its credibility.