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Fixed Deposits: Which Bank Will Give You 9% Interest Rate?

Team BankBazaar
Photo: from Pixabay

Fixed deposits are a popular investment product as they offer guaranteed returns while assuring capital safety. You can open a fixed deposit account with a public sector bank, private bank, foreign bank and a small bank. As compared to other banks, small banks tend to offer higher interest rates on deposits. Take a quick look at interest rates on select tenures from some well-known small finance banks.

Bank <1 Year >=1 to <=2  2 to <=3 3 to <=5
AU Small Finance Bank 7 7.63 7.77 7.5
Equitas Small Finance Bank 7.5 8 8.25 7
Fincare Small Finance Bank 7 8.25 9 8
Jana Small Finance Bank 8.25 8.5 8.4 8.25
Suryoday Small Finance Bank 7.75 8.25 8.5 9
Ujjivan Small Finance Bank 7 8 8.1 7

Data taken from respective bank’s website as on 11 Feb 2020. For each year range, maximum offered interest rate is considered; Interest Rate for normal fixed deposit amount below Rs 1 Cr. Compiled by