I had a similar question a few months back when I opened my FD account. I consulted with my father and also did my research to find out which bank gives the highest interest. Based on the insights I gained, I have shared below a few banks with their interest rates as per 2024.
Which Bank is Giving Highest Interest?
I opened my FD in HDFC Bank as I found them trustworthy and their tenure to be flexible. One thing you should note is that the rate of interest will be different for general citizens and older adults. It will also depend on factors such as the tenure and the amount you deposit. I have shared a list of a few popular banks with their interest rates for general and senior citizens for the maturity period of 5 years.
Also, please note that this list provides interest rates for an amount less than Rs. 3 Cr.
Name of Bank |
For General Citizen |
For Senior Citizen |
ICICI Bank |
7.00% |
7.50% |
IDBI Bank |
6.50% |
7.00% |
Central Bank of India |
6.50% to 6.66% |
7.00% to 7.19% |
Bank of Baroda |
6.50% |
7.50% |
HDFC Bank |
7.00% |
7.50% |
AU Bank |
7.25% to 7.45% |
7.75% to 7.98% |
So, as you can see, as of 2024, AU Bank is giving the highest interest rate for general citizens, that is 7.25% for an amount less than Rs. 3 Cr. For senior citizens, the interest rate is 7.98% which is again provided by AU Bank.
I hope this will help you decide which bank is giving highest interest.
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You might have heard of stock markets and you might have thought of investing in one at least once in your lifetime. But if you don't understand the process behind the stock market it's better to take a step that is safe and grow your money consistently without putting any effort. Besides mutual funds, it is better to invest your money in fixed deposits, this way you will never lose your money and your money will double up after a period. To invest in a fixed deposit you should learn which bank gives highest interest rate. So I will share with you details of the highest interest rate for the year 2022. Hopefully, this will help you make a better decision.
Which bank gives highest interest?
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a) |
State Bank of India FD |
2.90% to 5.50% |
3.40% to 6.30% |
HDFC Bank FD |
2.50% to 5.60% |
3.00% to 6.35% |
Punjab National Bank FD |
2.90% to 5.25% |
3.50% to 5.75% |
Canara Bank FD |
2.90% to 5.50% |
2.90% to 6.00% |
Axis Bank FD |
2.50% to 5.75% |
2.50% to 6.50% |
Bank of Baroda FD |
2.80% to 5.25% |
3.30% to 6.25% |
IDFC Bank FD |
2.50% to 6.00% |
3.00% to 6.50% |
Bank of India FD |
2.85% to 5.05% |
3.35% to 5.55% |
Punjab and Sind Bank FD |
3.00% to 5.30% |
3.50% to 5.80% |
As of 2022, IDFC bank is giving the highest interest rate of 6.00% for a tenure of 5 years. And for the senior citizen, the interest rate on Fixed Deposit is 6.50% for a tenure of 5 years.
For Fixed Deposits below 2 Crore, the best banks to invest would be:
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a) |
Yes Bank FD |
3.25% to 6.25% |
3.75% to 7.00% |
IndusInd Bank FD |
2.75% to 6.00% |
3.25% to 6.50% |
UCO Bank FD |
2.55% to 5.10% |
4.05% to 6.55% |
United Bank of India FD (now Punjab National Bank) |
2.90% to 5.25% |
3.40% to 5.75% |
Allahabad Bank FD (now Indian Bank) |
2.80% to 5.15% |
3.05% to 5.40% |
Central Bank of India FD |
2.75% to 5.15% |
2.90% to 3.25% |
Indian Bank FD |
2.80% to 5.15% |
3.05% to 5.40% |
Indian Overseas Bank FD |
3.40% to 5.25% |
3.90% to 5.75% |
Bandhan Bank FD |
3.00% to 5.60% |
3.75% to 6.35% |
DBS Bank FD |
2.50% to 5.75% |
3.50%to 6.25% |
Andhra Bank FD (now Union Bank) |
3.00% to 5.50% |
3.50% to 6.00% |
HSBC Bank FD |
2.25% to 4.00% |
2.75% to 4.50% |
Syndicate Bank FD (now Canara Bank) |
2.90% to 5.50% |
2.90% to 6.00% |
Duetsche Bank FD |
1.80% to 6.25% |
1.80% to 6.25% |
SBM Bank FD |
2.50% to 6.00% |
3.00% to 6.50% |
For FD Yes Bank gives the interest rate of 6.25% for a tenure of 10 years. For senior citizens, the interest rate is 6.50% for a period of 10 years provided by Yes Bank.
I hope you find my answer on which bank gives highest interest rate informative.
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Authors Of The Question
Which bank gives highest interest rate?
Sukanya
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2 Answers
2 Year
2022-04-06T10:45:39+00:00 2022-04-06T10:45:40+00:00Comment
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