Fixed deposits have been the go-to investment scheme for countless people over several years. This is because fixed deposits are versatile and flexible financial products, which offer a slew of benefits. A fixed deposit offers guaranteed returns, hassle-free investment, regular income, built-in flexibility, and above all, it is a tax-saving scheme. The rate of interest offered to you, when you open an FD account, remains constant throughout the tenure. The fall or rise of the interest rates in the broader market, will not affect your FD.
FDs are one of the finest investment alternatives for people who want to earn consistent returns without opening themselves to fluctuating risk of investments, like market-based returns. Now, if you want to assume for 1 year only, here are the top banks in India that are currently promising returns up to 6.75 per cent on fixed deposits of less than Rs 2 crore maturing in 1 year.
Jana Small Finance Bank:
Jana Small Finance Bank is the only bank, at the present time, that is offering an interest rate of up to 6.25 per cent to the general public on a deposit of 1 year. For senior citizens, the interest rates are 6.75 per cent. Check out the latest interest rates on fixed deposits, which were revised on 07.05.2021, at the bank’s website.
Ujjivan Small Finance Bank:
Ujjivan Small Finance Bank ranks second in the list of banks offering an interest rate of 6.00 per cent to regular customers and for senior citizens, it has gone up by 6.50 per cent, on deposits amount of less than Rs 2 Crore, which is maturing in 1 Year to 2 Years.
One of the leading private sector banks, IndusInd Bank is currently promising an interest rate of 6 per cent and 6.50 per cent to the general public and senior citizens, respectively, on deposits of less than Rs 2 crore, which is maturing in one year to below 1 year 6 months. Check out the interest rates offered by the Induslnd Bank here.
RBL Bank is the second bank among the private-sector lenders that offers an interest rate of 6.00 per cent to the general public, on deposits of less than Rs 3 crore, which will be maturing in 12 months to 24 months. For senior citizens, the interest rate is 6.50 per cent.