5 Best 1-Year Fixed Deposits To Invest
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Private Bank FDs
On one-year FDs, private banks are giving 6.1 per cent interest rates. For example, RBL Bank offers 6.10 per cent and IndusInd Bank offers 6% on one-year fixed deposits. These rates of interest are higher than those given by the major public sector banks. As a result, the top five private sector banks are presently offering higher interest rates on one-year fixed deposits of up to Rs 2 crore are as follows:
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| RBL Bank | 6.10% | 6.60% | 1 June, 2021 |
| IndusInd Bank | 6.00% | 6.50% | 4 June, 2021 |
| Yes Bank | 6.00% | 6.50% | 3 June, 2021 |
| DCB Bank | 5.70% | 6.20% | 15 May, 2021 |
| Bandhan Bank | 4.50% | 5.25% | 7 June, 2021 |
| Source: Bank Websites |
Public-sector bank fixed deposits
On one-year fixed deposits, public sector banks such as Union Bank and Canara Bank are giving higher interest rates. Leading banks, such as the State Bank of India (SBI), are giving 4.40% interest rates on one-year fixed deposits. Check the below-listed top 5 public-sector banks, which are now giving higher interest rates on 1-year fixed deposits for a deposit amount of less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Union Bank | 5.25% | 5.75% | 15.12.2020 |
| Canara Bank | 5.20% | 5.70% | 08.2.2021 |
| Punjab & Sind Bank | 5.15% | 5.65% | 16 May, 2021 |
| Indian Overseas Bank | 4.90% | 5.40% | 09.11.2020 |
| Bank of India | 4.50% | 5.00% | 1 June, 2021 |
| Source: Bank Websites |
Small Finance Bank Fixed Deposits
Small finance banks provide higher interest rates than major private and public-sector banks. Here are the top 5 small finance banks which are now giving higher interest rates on 1 year fixed deposits for a deposit amount of less than Rs 2 Cr.
| Banks | Regular FD Rates | Senior Citizen FD Rates | W.e.f. |
|---|---|---|---|
| Utkarsh Small Finance Bank | 6.75% | 7.25% | 19.10.2020 |
| Ujjivan Small Finance Bank | 6.50% | 7.00% | 5.03.2021 |
| Equitas Small Finance Bank | 6.35% | 6.50% | 1.06.2021 |
| Jana Small Finance Bank | 6.25% | 6.75% | 07.05.2021 |
| Suryoday Small Finance Bank | 6.25% | 6.75% | 15.02.2021 |
| Source: Bank Websites |
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