Whenever it comes to investment, the first thought that comes to everyone’s mind is the stock market. For higher returns, people often advise investing in the stock market, but with higher returns there is also more risk in the stock market. And it is not that you should turn to the stock market for higher returns. Here we will be telling you about those banks which are giving higher interest rates on fixed deposits, where you can invest tour money.
Now you can earn more money by making fixed deposits in these banks. Although these offers of the bank are for everyone but senior citizens are being given priority. Some banks are giving returns up to 10 percent. In this article, we will tell you about 5 banks which are giving high returns on fixed deposits. If you want to make good returns from bank FD, then here are 5 such banks, which are offering the best returns in the market on fixed deposits.
Table of Contents
5 Banks Offering High Returns on Fixed Deposits in 2024
1) Utkarsh Small Finance Bank
Utkarsh Small Finance Bank offers 8% interest on 1 year FD, 8.50% for 3 years and 7.75% for 5 years. Senior citizens get additional 60 basis points (bps), which makes their FD rate 9.10%.
2) Shivalik Small Finance Bank
Shivalik Small Finance Bank offers FD rates of 6% for 1 year, 7.50% for 3 years and 6.50% for 5 years. Senior citizens get a rate of 9.05%.
3) Unity Small Finance Bank
Unity Small Finance Bank is giving returns with an FD rate of 7.85% for a period of 1 year, 8.15% for a period of 3 years and 5 years and a maximum rate of 9% for regular customers. Senior citizens get additional 50 basis points (bps), their rate becomes 9.50%.
Also Read: September Credit Card Updates: HDFC Bank’s Reward Points Cap and IDFC First Bank’s New Payment Rules
4) Jana Small Finance Bank
Jana Small Finance Bank offers FD rates of 8.25% for 1 year and 3 years, while 5-year tenure is available at 7.25%. Senior citizens get interest rates as high as 8.75%.
5) DCB Bank
DCB Bank offers 7.10% returns on 1 year FD, 7.55% for 3 years and 7.40% for 5 years. Senior citizens get the highest FD rate of 8.55% with an additional 50 bps.