Earn FD interest rate up to 8.75%: Top banks offering highest fixed deposit rates for tenures below one year Let us take a look at at the interest rates offered by the top banks on such short-term FDs
One of the main factors that investors in India find ideal about Fixed Deposits (FD) is their flexible term. To make it simple for both short-term and long-term investors, banks offer FDs with tenures ranging from 7 days to 10 years.Short term deposit period can range between 7 days to 12 months. The long-term deposit ranges from above 1 year to 10 years. The FD interest rates offered vary from bank to bank, depending on the tenure.
The interest rates on short-term fixed deposits are greater than those on savings accounts, while lower than those on long-term deposits.
Let us take a look at at the interest rates offered by the top banks on such short-term FDs.
Private Banks
HDFC Bank FD interest ratesHDFC Bank offers interest rates between 3% to 6.00% for tenure ranging from 7 days to less than one year for general citizens.
ICICI Bank FD interest ratesHDFC Bank offers interest rates between 3% to 6.00% for tenure ranging from 7 days to less than one year for general citizens.
Yes Bank FD interest ratesYes Bank offers interest rates between 3.25% to 7.25% for tenure ranging from 7 days to one year for general citizens.
PSU Banks
SBI FD interest rates
SBI offers interest rates between 3 % to 5.75% for tenure ranging from 7 days to one year for general citizens.
PNB FD interest ratesPNB offers interest rates between 3 % to 7% for tenure ranging from 7 days to one year for general citizens.
Also read: This HDFC Bank special FD offers up to 7.75% interest rate along with hospital cash insurance; who can invest, tenure, investment amount, interest payment
Canara Bank FD interest ratesCanara offers interest rates between 4% to 6.85% for tenure ranging from 7 days to one year for general citizens.
Also read: FD interest rate up to 9.25%: These 5 banks have revised fixed deposit rates in April
Small Finance Banks
Unity Small Finance BankUnity SFB offers interest rates between 4.50% to 7.85% for tenure ranging from 7 days to one year for general citizens.
Jana Small Finance Bank Jana SFB offers interest rates between 3% to 8.50% for tenure ranging from 7 days to one year for general citizens.
Suryoday Small Finance BankSuryoday SFB offers interest rates between 4% to 6.85% for tenure ranging from 7 days to one year for general citizens.
(Source: Bank websites; interest rates as on April 23, 2024)
This story originally appeared on: India Times - Author:Faqs of Insurances
