After increasing the repo rate by the Reserve Bank of India, many banks have also made their loans expensive and also increased the FD rates offered. If it is a matter of saving with security, then FD is considered to be a great option.
Since FDs are free from market volatility, it is a safe investment. Between Corona, most banks had reduced their interest rates. But after increasing the repo rate, some banks have increased the interest rates of FDs. There are many banks and small finance banks that are offering interest up to 7.5%.
Ujjivan Small Finance Bank
If we talk about small finance banks, then Ujjivan Small Bank is giving the highest interest on FD. According to the bank’s official website, interest of 7.70% is being given on Platina FDs less than 2 crores and more than Rs 15 lakhs. Ujjivan Bank is giving this interest on FDs maturing in 525 days and 990 days.
Jana Small Finance Bank
In Jan Small Bank, customers with a duration of more than 3 years and less than 5 years and FDs of more than Rs 15 lakh and less than Rs 2 crore are being given an interest of 7.5%. The new interest rates are applicable from 18 August 2022.
Deutsche Bank India
What interest is getting 7.5% from Deutsche Bank on FDs with a tenure of 5 years. The minimum FD deposit size is Rs 20,000. The new interest rates have been implemented from 19 August 2022.
According to the official website of the bank, what interest is being given at 6.75% on FDs up to 2 crores. For this, customers will have to invest in FDs with a tenure of up to 5 years.