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Investing In 1-2 Years’ FD? 10 Banks Offering The Highest Interest Rates

·1-min read
Photo by maitree rimthong from Pexels
Photo by maitree rimthong from Pexels

Fixed deposits (FDs) are a popular investment option in our country as they come with multiple tenure options of 7 days to 10 years, offer assured returns, provide ease of investment process and high liquidity. However, low-interest rates have been a cause of worry for many risk-averse investors like senior citizens, who often rely on their FD returns for their day-to-day expenses. There are still a few private and small finance banks that are currently offering above-average FD returns. Investors could consider investing a portion of their funds in FDs of these banks after a thorough risk assessment, and if doing so is in line with their returns expectations and risk appetite.

So, if you’re planning to open an FD account, here is a list of 10 banks that are currently offering the highest interest rates in the country for FDs with tenures between 1 to 2 years.

10 Banks Offering The Highest Interest Rates On 1-2 Years’ Fixed Deposits

Bank Name

Bank Type

Highest Advertised Interest Rate For 1-2 years’ Regular FDs

Suryoday Small Finance Bank

Small Finance Bank

6.75% p.a.

Ujjivan Small Finance Bank

Small Finance Bank

6.5% p.a.

Jana Small Finance Bank

Small Finance Bank

6.5% p.a.

DCB Bank

Private Bank

6.4% p.a.

Equitas Small Finance Bank

Small Finance Bank

6.35% p.a.

AU Small Finance Bank

Small Finance Bank

6.35% p.a.

RBL Bank

Private Bank

6.1% p.a.

Fincare Small Finance Bank

Small Finance Bank

6% p.a.

IndusInd Bank

Private Bank

6% p.a.

TNSC Bank

Private Bank

6% p.a.

Disclaimer: Data as on respective banks’ website on June 18, 2021. The maximum offered interest rate has been considered for 1-2 years range. All interest rates are for normal fixed deposits amounting to less than Rs.1 crore.

Data compiled by BankBazaar.com, an online marketplace for loans, credit cards and more.

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