Customers have the opportunity to invest without the risk of losing their capital. In fact, 5 banks are offering guaranteed 7.25% returns (Highest FD Rates) with investment in fixed deposits. This interest rate is being given only on 1 year investment, which is very attractive in case of term deposits.
According to experts, this is the right time to invest money in fixed deposits. Because, banks are revising the interest rates not once but thrice. Ever since the RBI has increased the rate to 6.25 percent on December 7, 2022, since then a continuous increase in interest rates is being seen. In such a situation, if you want to invest with guaranteed returns, then 5 banks are offering good interest rates on tenure of 1 year.
Highest FD Rates are being given by 5 banks on FDs with tenure of 1 year
- Bandhan Bank has offered to pay 7.25 percent interest rate on investing in FDs with a tenure of 1 year.
- DCB Bank has offered investors an interest rate of 7.25 per cent on FDs maturing in 1 year.
- IndusInd Bank has said that it will give 7.00 percent interest rate to investors in 1 year FD.
- RBL Bank will give 7.00 percent interest rate to its customers who invest on FDs maturing in 1 year.
- Yes Bank has also said that it will give 7.00 percent interest rate to its customers instead of investing in FDs with maturity of 1 year.
Investing on FD of 1 year tenure will give 74 thousand profit.
If you choose to invest in FD of Bandhan Bank or DCB Bank and invest 10 lakh rupees, then after 1 year, when the FD matures, you will get a total interest of 7.25%. 10,74,495 will be available. 74,495 will be the interest rate, which will be your profit. On the other hand, if you invest Rs 10 lakh in FD of IndusInd Bank, RBL Bank or Yes Bank, then you will get Rs 71,859 interest at the rate of 7 per cent, while the total return will be Rs 10,71,859.
| Name of bank | 1 year maturity |
| Bandhan Bank Bandhan Bank | 7.25% |
| DCB Bank DCB Bank | 7.25% |
| IndusInd Bank IndusInd Bank | 7.00% |
| RBL Bank RBL Bank | 7.00% |
| Yes Bank Yes Bank | 7.00% |
Penalty rules on FD withdrawal before maturity
Most banks charge a penalty for premature closure of fixed deposits. According to the website of Punjab National Bank, 1% penal interest will be charged at the time of premature withdrawal or partial withdrawal of Domestic Fixed Deposit for all tenures. The penalty rate of banks may vary on pre maturity withdrawal.
Withdrawal option on maturity of FD:
On maturity of your FD, the investor has two options. Investors can either withdraw their entire money or invest the money in a new FD. On FD maturity, you can withdraw your deposit from the bank branch either online or offline.
