Which Bank Gives Highest Interest Rate on FD?

After getting a job, my father insisted that I open a fixed deposit account. So, I was researching which bank is giving highest interest rate on FD. I realised IDFC FIRST Bank is one of the best banks offering the highest interest rates of 7.50%.

Which Bank Gives High Rate of Interest in Fixed Deposit?

Before investing my money in FD, I did thorough research and compared the interest rates of various lenders. Let me share the comparison table with you all;

This table provided me with a clear picture of which bank is giving highest interest rate for FD. 

I took some time to compare rates from several banks to determine which bank is giving maximum rate of interest on FD. I also talked to bank representatives in person, browsed bank websites, and read financial news. I hope my research can help you in making an informed decision. Let me know if you need more information in the comments, I will surely try to help you 🙂

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The Reserve Bank of India has changed interest rates twice in a row, which is good news if you want to invest in fixed deposits. The most basic type of financial investment is a fixed deposit. You can open a fixed deposit account with a bank or a non-banking financial institution whenever it is convenient for you. I also have my FD account with Axis Bank. The rate of interest paid on a savings bank account is lower than the rate of interest given on a fixed deposit. Let me answer your query which bank give highest interest on FD.

Guide on which bank gives highest interest on FD:

1) IDFC Bank gives the highest FD interest rate of 6.00 percent p.a. to the general public for a term of 5 years or more

2) The interest rate for senior citizens might reach 6.50 percent.

3) Axis Bank offers the second-highest interest rate of 5.75 percent p.a. for loans with a term of 5 years or more.

4) The third highest interest rate is 5.60 percent p.a., which is offered by HDFC for terms of 5 years or more.

5) YES Bank offers the highest FD rate among India's renowned banks, at 6.25 percent per annum, with tenures ranging from 5 to 10 years for the general public.

6) Yes Bank offers the highest FD rate among renowned Indian banks for senior citizens, at 6.50 percent, with terms ranging from 5 to 10 years.

Which bank gives more interest on FD?

The following is the list of interest rates offered by various banks on FD for a tenure of 7 days to 10 years. It will give you an idea about the highest interest rates.

Which bank is giving highest interest on FD for senior citizens?

In comparison to the card rate for the general public, SBI's Wecare Deposit gives an additional 30 basis points, on top of the additional 50 basis points for senior persons, for tenures of 5 to 10 years. The interest rate for this FD scheme is 6.20 percent per annum.

The bank's Senior Citizen Care FD now has a 75 basis point higher interest rate, making it 6.25 percent per annum. The 0.25 percent p.a. surcharge over and above the 0.50 percent higher interest rate for older citizens is valid until April 30, 2022.

The bank offers a 0.50 percent higher interest rate on all tenors for up to 5 years. It also offers a 1% bonus for investments made over 5 years and up to 10 years, effective until April 30, 2022.

I hope you understood which bank gives highest interest rate on FD.