If you are looking for a safe investment option,
FDS are for you. We have the list of top
banks offering the highest FD rates.
Fixed Deposit or FDS stand out as a favored investment
choice in India,
renowned for their flexibility and reliable returns.
Spanning duration from seven days to 10 years,
FDS accommodate the preferences of both short term and long
term investors.
And with the Reserve Bank of India maintaining the repo
rate at
6.5% for an extended period,
financial experts anticipate a potential decrease in interest rate in
the coming months provided inflation stays in check.
So now is a great time to put your money
into fixed deposits or FDS and lock in those high
interest rates.
There are some banks that offer up to
7.25% interest on a three-year FDS.
These banks have been selected based on their term deposit
holdings with the focus on the best rates they offer
on three-year FDS up to rupees 1,00,00,000 for residents,
retail, non senior citizens. The rates are calculated considering quarterly
compounding of interest.
Here are the top ten banks with the highest interest
rates on three-year fixed deposits based on their term deposit
holdings.
Investing in a three-year FD with Bank of Baroda earns
an interest rate of
7.25%. For instance, depositing 1,00,000 for three years will yield
rupees
1,24,000 and 55 rupees. Axis Bank provides a
7.10% interest rate. On a three-year FD,
a rupees 1,00,000 investment over three years will grow up
to one lakh
23508. ICICI Bank, Punjab National Bank and HDFC Bank all
offer a 7%
interest rate on three-year FDS.
Investing 1,00,000 for three years will grow to
1,23,000 and 144. Canara Bank provides a
6.8% interest rate on a three-year FDS.
Investing 1,00,000 for three years will grow to rupees
1,22,420
with a slightly lower interest rate of
6.75%. The State Bank of India offers return on three-year
FDS.
Investing 1,00,000 for three years will result in rupees
1,22,239. Bank of India and Union Bank of India both
offer a
6.5% interest rate on a three-year FDS.
Investing rupees 1,00,000 for three years will grow to rupees
1,21,341. Indian Bank provides a
6.25% interest rate on three-year FDS.
Investing rupees 1,00,000 for three years will grow to rupees
1,20,448. There are many banks that offer high interest rates
exclusively for senior citizens.
While these are the interest rates offered by these banks,
we urge you to always do your research to find
the best investment solution as per your needs.