look news india
Highest FD Interest Rate: If you want to increase your capital without much risk then there is good news for you. Some banks are now offering up to 9 percent interest on fixed deposits (FD). This special offer is for three-year FDs and is only for those who are below 60 years of age. Let us know which banks are offering the highest interest.
If your FD amount is less than Rs 3 crore, then Northeast Small Finance Bank has offered up to 9% interest on three-year FDs. After this, Suryoday Small Finance Bank is offering 8.6% interest.
The interest rate of Utkarsh Small Finance Bank is 8.5%. Also, Jan Small Finance Bank is giving 8.25% interest on three-year FD. Apart from this, Unity Small Finance Bank is giving 8.15% interest.
Despite these attractive interest rates, experts say that one should be cautious before making FDs in these small banks. In particular, one should invest only as much money in FDs as is covered by DICGC (Deposit Insurance and Credit Guarantee Corporation) which provides protection of up to Rs 5 lakh per account.
SBI's Amrit Kalash FD and Amrit Vrishti FD Scheme
Apart from this, SBI's Amrit Kalash FD offers attractive interest rates. This scheme serves domestic, NRI and senior citizens. This 400-day special period scheme has an interest rate of 7.10% from April 12, 2023. Senior citizens are eligible for an interest rate of 7.60%. This scheme will be valid till September 30, 2024.
At the same time, SBI Amrit Vrishti FD scheme offers 7.25 percent interest rate on deposits of 444 days. In this new FD scheme, senior citizens can earn additional 0.50 percent interest. Along with this, they can also take loan on these deposits. The deadline for this scheme is March 31, 2025.