Banks have recently increased the interest rates on fixed deposits. Banks has done this after the Reserve Bank of India (RBI) repeatedly increased the repo rate after May 2022. RBI has increased the repo rate by a total of 190 basis points since May. Many lenders are now paying interest at the rate of more than 7 per cent on FDs. Where retail inflation has reached a five-month high of 7.4 percent in September 2022. In such a situation, fixed deposits can be a good investment option for many people.
If you too are thinking of investing in Fixed Deposit ie FD in the coming days, then let us tell you in which banks you will get the best interest rate on FD of three years.
AU Small Finance Bank : At present, interest rate of 7.50 per cent is available on FD with a tenure of three years in this small finance bank.
DCB Bank : At present, interest is being received at the rate of 7.50 per cent on three-year FD in this private bank.
bandhan bank : In this private bank, you will currently get interest at the rate of 7.00 percent on fixed deposits of three years.
City Union Bank : This bank has an interest rate of 7.00 percent on FDs with a tenure of three years.
Karur Vysya Bank : At present, interest is being received at the rate of 7.00 percent on three-year fixed deposits in this bank.
Apart from this, let us tell you that now you can open FD account online at the post office sitting at home. For this you will not even need to go to the post office. Because like the bank, the post office also gives you the facility of fixed deposit scheme for one year, two years, three years and five years. Post office fixed deposits are called time deposits. Interest in Post Office Fixed Deposits is paid on an annual basis, but is calculated on a quarterly basis. If you fix the money in Post Office Time Deposit for one year, then you will be given interest at the rate of 5.50%.
