Personal Finance News

Small Banks to offer higher returns on 1 year FDs – Find out more

The small private banks are offering a good amount of returns on FDs maturing in one year. The interest rates are comparatively higher than other big banks.

Even though there are many organized investors who still prefer investing in Term Deposits or Fixed Deposits for safety and assured returns.

The best thing about fixed deposits or FD is it assures a flexible tenure. There is a liquidity in portfolio which ensures easy or smooth withdrawal of money.

Due to all such flexibilities and benefits it is always advisable to invest in FDs. One should keep aside the falling interest rates and keep a certain percentage of their portfolio in Fixed Deposits.

However, the interest rates might have been fluctuating or not as per convenience of the investor but somehow many changes are happening in the market.

The smaller private banks are offering a good fixed return on minimum tenures. This list includes Indusland Bank, RBL Bank, Yes Bank, DCB Bank and IDFC First Bank.

These banks are giving a 6.50 percent interest on FDs ending with one year of tenure.

In this list The Indusland Bank, RBL Bank and Yes Bank have secured the first place while DCB and IDFC First Bank are offering 6.25% and 5,75% of interest respectively.

These banks are providing very higher returns as compared with other public sector banks like Bank of India, Canara Bank, Punjab & Sindh Bank including others.

Also, this rate is higher than leading banks like HDFC and the ICICI Bank offering 4.90 % interest on 1-year FDs.

Check all the recent news updates and share market updates


Get 90% Discount on Brokerage Now! Open Demat Account