FD interest rate of up to 9%: Fixed Deposits (FDs) are generally safer than many other investment options, but they are not entirely risk-free

FD interest rate of up to 9%: Check highest interest rates offered by small finance banks in December 2024 On fixed deposits (FDs), investors can still get up to 9% interest rates in select small finance banks

Due to its numerous advantages, a fixed deposit (FD) is regarded as one of the safest investments and is the preferred investment vehicle for investors throughout. One of the most dependable financial products available is a fixed deposit, sometimes referred to as a term deposit. For example, depending on your selected interest payment plan, you receive safe, consistent, and fixed returns on a certain date. Interest payment plans are available on a monthly, quarterly, or half-yearly basis. With your FD investment, you can also choose to build up a lump sum and get cumulative interest payments.

ET Year-end Special Reads

Take That: The gamechanger weapon's India acquired in 2024
10 big-bang policy moves Modi government made in 2024
How governments tried to rein in the social media beast
FD interest rate of up to 7.9%: This bank introduces new fixed deposit scheme, check details

According to the DCB Bank website, "Fixed Deposits (FDs) are generally safer than many other investment options, but they are not entirely risk-free. Investors should be aware of several risks, including interest rate risk, inflation risk, and default risk. These factors can affect the overall return and security of the investment, making it important to consider them when opting for FDs."

FD investors can get 9% interest rate: Full list of banks

On fixed deposits (FDs), investors can still get up to 9% interest rates in select small finance banks. This high interest rate is being offered for deposits less than Rs 3 crore and to individuals aged below 60 years old.

FD interest rate up to 7.55%: Check banks offering best rates on 3-year fixed deposit; full list

Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Performance Marketing for eCommerce Brands
By - Zafer Mukeri, Founder- Inara Marketers
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
A2Z Of Money
By - elearnmarkets, Financial Education by StockEdge
Marketing
Modern Marketing Masterclass by Seth Godin
By - Seth Godin, Former dot com Business Executive and Best Selling Author
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Strategy
Succession Planning Masterclass
By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital Marketing Masterclass by Pam Moore
By - Pam Moore, Digital Transformation and Social Media Expert
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Data Science
SQL Server Bootcamp 2024: Transform from Beginner to Pro
By - Metla Sudha Sekhar, IT Specialist and Developer

Unity Small Finance Bank offers the highest interest rate of 9% on tenure of 1001 days and NorthEast Small Finance Bank offers the highest interest rate of 9% on tenure between 546 days and 1111 days. While Suryoday Small Finance Bank offers the highest interest rate of 8.60% on deposits maturing between more than two years and three years.

Highest interest offered by small finance banks in December 2024

Bank Name	Interest rate (%)	Tenure
AU Small Finance Bank	8	18 months
Equitas Small Finance Bank	8.25	888 days
ESAF Small Finance Bank	8.25	2 years to less than 3 years
Jana Small Finance Bank	8.25	1 year to 3 years
NorthEast Small Finance Bank	9	546 days to 1111 days
Suryoday Small Finance Bank	8.6	Above 2 years to 3 years
Ujjivan Small Finance Bank	8.25	12 months
Unity Small Finance Bank	9	1001 days
Utkarsh Small Finance Bank	8.5	2 years to 3 years; 1500 days

Interest rates as of 26th December 2024

How safe are small finance banks?

According to the AU Small Finance Bank website, "Like other types of banks in India, the RBI regulates and governs small finance banks. Therefore, all the banking norms, such as Statutory Liquidity Ratio Requirements, Cash Ratio Reserve Requirements, etc., apply to them. Moreover, the RBI also defines aspects like Eligibility Criteria and Mandatory Promoter Contribution for SFBs. In other words, there are stringent regulations that SFBs must adhere to for their operations. As the RBI regulates the segment, SFBs are as safe as any other type of bank."

This story originally appeared on: India Times - Author:Faqs of Insurances