If you’re thinking about putting your savings into a Fixed Deposit (FD), this info is definitely for you. Major government and private banks in the country are rolling out some impressive interest rates on FDs. A recent report shows that several banks are offering up to 7.75% interest on a 1-year FD. SBI is among these banks. Let’s check out 10 banks that are providing the highest interest rates for a 1-year FD.
More from Sweta Mitra
Here’s where you can snag 7.75% interest:
DCB Bank offers 7.25% interest for regular customers on a 1-year FD, while senior citizens can get 7.75%. Tamilnad Mercantile Bank matches this with 7.25% for general customers and 7.75% for seniors. Canara Bank is also in the mix, providing 7% for regular customers and 7.50% for senior citizens.
RBL Bank
Karnataka Bank offers 7% interest for regular customers and 7.40% for seniors on a 1-year FD. Deutsche Bank has the same rates for both groups. RBL Bank provides 7% for regular customers and 7.50% for senior citizens.
SBI offers over 7% interest
Bank of India gives 7% interest to regular customers and 7.50% to seniors on a 1-year FD. Meanwhile, State Bank of India offers 6.80% for regular customers and 7.30% for senior citizens.
Additionally, Bank of Baroda and Central Bank of India are providing 6.75% interest for regular customers and 7.25% for senior citizens on a 1-year FD.