One of the biggest reasons for this is that the bank’s FD There is absolutely no risk in the schemes and your investment money is absolutely safe. However, many times there are complaints from bank FDs that the interest received in these is very less. In such a situation, we have brought a list of some private banks for you, in whose FD schemes you will be able to get the benefit of much better interest rate.

Explain that under Section 80C of the Income Tax Act, tax deduction can be claimed on investments up to Rs 1.5 lakh. Tax saving FDs have a lock-in period of five years and premature withdrawal is not allowed.

DCB Bank FD Plan

DCB Bank , the leading private sector bank , is offering an interest rate of 7.6 per cent per annum to its customers. If we talk about the interest offered by private banks on FDs, then this interest rate is the highest. If you invest Rs 1.5 lakh in this bank’s FD scheme with a tenure of five years, then this amount will grow to Rs 2.19 lakh.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank and AU Small Finance Bank offer an interest rate of up to 7.20 per cent on tax saving deposits. Among small finance banks, both DCB Bank and Ujjivan Small Finance Bank offer the highest interest rates. If you invest Rs 1.5 lakh in the FD scheme of this bank, it grows to Rs 2.14 lakh in five years.

Deutsche Bank FD Scheme

Private sector bank Deutsche Bank offers 7% interest on FD schemes to its customers. Please tell that Deutsche Bank is not an Indian bank but a foreign bank. This bank offers the highest interest rate in the list of foreign banks operating in India. If you invest Rs 1.5 lakh in this bank, it will grow to Rs 2.12 lakh in five years.

IndusInd Bank

IndusInd Bank, one of the leading private banks in India, is also providing interest benefits of 6.75 per cent to its customers. If you invest Rs 1.5 lakh in this bank, it will grow to Rs 2.10 lakh in five years. At the same time, Suryoday Small Finance Bank is also providing the benefit of interest at the rate of 6.75 percent to its customers. If you invest Rs 1.5 lakh in this bank, it will grow to Rs 2.10 lakh in five years.

The post Best Bank FD Rate Plan: These four Banks are giving the highest interest rate on FD, know what is the interest rate in each bank first appeared on Rightsofemployees.com.

 Let us inform that from January 1, 2023, Shriram Finance has increased the interest rates by 5-30 basis points i.e. basis points. The revised rates will be applicable for tenures ranging from 12 months to 60 months. This NBFC is also paying an additional 0.25 percent interest on all renewals. Let us know what are the new rates-

Revised interest rates in Shriram Finance from January 1- 

Revised interest rates for senior citizens from January 1- 

Revised interest rates for women + senior citizens + renewals from January 1- 

For senior citizens of above age Shriram Finance gives additional interest of 0.5% per annum. NFBC company Shriram Finance also gives an additional 0.10 percent interest to women depositors, while giving an additional 0.25 percent interest on all renewals. 

Is it safe to invest in Shriram Finance FD?

Shriram Finance is an NBFC ie Non Banking Finance Company and a part of the Shriram Group. It is one of the largest NFBC in India. However, FDs offered by NBFCs are subject to instructions issued by RBI. These deposits do not get the benefit of deposit insurance guarantee of Rs 5 lakh offered by regular banks as per RBI regulations, so depositors should exercise caution before investing in FD schemes offered by NBFCs. 

The post Highest interest rate On FD: Here the highest interest rate of 9.36% is available on FD, see the complete list .. first appeared on Rightsofemployees.com.