If you are planning to invest in Fixed Deposit (FD) in the near future, then this news is useful for you. By making fixed deposits, customers get guaranteed income with bumper returns after a fixed period. For the last few years, banks have been offering huge interest rates to FD customers. Today we are going to tell you about those 5 banks which are offering the highest interest on 1 year FD to their customers. Let us know about the complete news in detail.

DCB Bank
DCB Bank is offering 7.25% interest to its general customers on 1 year FD. At the same time, the bank is offering 7.75 percent interest to its senior citizen customers for the same period.

Tamilnad Mercantile Bank
Tamilnad Mercantile Bank is giving 7.25% interest to its general customers on 1 year FD. On the other hand, the bank is offering 7.75 percent interest to its senior citizen customers on FD for the same period.

Canara Bank
Canara Bank is giving 7% interest to its general customers on 1 year FD. On the other hand, the bank is offering 7.75 percent interest to its senior citizen customers for the same period.

Karnataka Bank
Karnataka Bank is giving 7% interest to its general customers on 1 year FD. At the same time, the bank is giving 7.40 percent interest to its senior citizen customers for the same period.

Deutsche Bank
Deutsche Bank is giving 7% interest to its general customers on 1 year FD. On the other hand, the bank is also offering only 7% interest to its senior citizen customers on FD for the same period.

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According to the information available on the official website of banks, the new rates of interest are effective from December 1, 2022. After the change in interest rates, Jana Small Finance Bank is offering a maximum interest rate of 7.55 percent and 8.50 percent to ordinary citizens on savings accounts and FDs maturing in 2 to 3 years. At the same time, Karnataka Bank is offering an interest rate of 5.25 per cent to 5.80 per cent on FDs maturing in 7 days to 10 years.

Jana Small Finance Bank Savings Account Interest Rates

Interest is calculated on the end-of-day balance in the Jana Small Finance Bank Savings Account. Bank interest is paid on quarterly basis in savings account. Jana Small Finance Bank is offering 3.50 percent interest rate on Rs 1 lakh and 7 percent interest rate from Rs 1 lakh to Rs 50 crore. Bank is paying interest at the rate of 6.50% on the amount above this.

Jana Small Finance Bank New FD Rates

Jana Small Finance Bank 2.50% for FDs maturing in 7-14 days, 3.00% for FDs maturing in 15-60 days, 5.25% for 61-90 days, 91-180 days is offering an interest rate of 5.50 per cent.

The bank is paying interest rate of 7 percent on deposits maturing in 181 days to one year (365 days) and 7.50 percent on deposits maturing in one year to two years. Deposits maturing in 2 to 3 years will get interest at the rate of 7.55 percent, while FDs maturing in 3-5 years will get interest at the rate of 7.35 percent. The interest rate offered by Jana Small Finance Bank is 7.25 percent for FDs maturing in 5 years and 6 percent for FDs maturing in 5-10 years.

New FD Rates of Karnataka Bank Karnataka Bank is currently paying an interest rate of 5.25 percent on FDs maturing in 7 to 364 days. Is offering an interest rate of 7.20 percent on FDs maturing in 555 days. Now 6.80 percent interest will be given on FD with a period of 2 years, at the rate of 5.75 percent if it matures in 2-5 years. Karnataka Bank is now paying an interest rate of 5.80 percent for FDs of 5 to 10 years. If an FD of Rs 2 crore is closed prematurely, a penalty of one per cent of the applicable rate will be charged.

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It is worth noting that the bank will give the maximum interest rate on FDs maturing in 1-2 years. At the same time, the bank is giving 0.50 percent more interest to senior citizens than the normal interest rate on one tenure. It is worth noting that this change is before the increase in the repo rate by the RBI. It is being speculated that further banks may increase FD interest rates further.

Interest Rates of Karnataka Bank The bank is giving 5.25 percent interest for FDs of 7 to 90 days on deposits of less than Rs 2 crore. Customers will also get 5.25 percent interest on 91-364 days FD. The bank is giving the highest interest of 6.40 percent on FDs between 1-2 years. After this, the bank will give an annual interest of 5.75 percent on FDs maturing in more than 2 years and in 5 years. It is giving an interest of 5.80 percent on FDs of more than 5 years to 10 years.

Interest rate for senior citizens

According to the information given by Karnataka Bank on the website, senior citizens of India are being given an additional interest of 0.50 percent on FDs of less than Rs 2 crore by the bank. The bank is giving 6.80 percent interest on FDs of 1-2 years. Interest will be 6.15 percent on FDs of 2-5 years and 6.30 percent on FDs of more than 5 years to 10 years. The interest rate for senior citizens for the longest tenure is 0.50 per cent higher than the simple interest rate.

Increase in Repo Rate

RBI announced an increase in the repo rate once again on 30 September i.e. Friday. After the 3-day meeting of the Monetary Policy Committee, RBI Governor Shaktikanta Das has announced an increase of 0.50 percent in interest rates. After the increase in rates for the fourth consecutive year, the repo rate has now reached 5.90 percent. Due to this, FD interest rates are expected to rise. Also, there is an estimate of increase in loan rates by banks.

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