Lock In Higher Returns: Top Banks Offering the Best Fixed Deposit Rates Now!

Curious about where to stash your savings for the best returns? Explore this guide to fixed deposit rates, as banks compete to offer you the most bang for your buck. Unlock optimal growth for your money!

Small Finance Banks Lead

For those seeking the highest yields on their fixed deposits, small finance banks are currently setting the pace. Suryoday Small Finance Bank stands out,

offering an impressive 7.90 percent per annum for deposits held between one and five years. Following closely, Jana Small Finance Bank presents an attractive rate of 7.77 percent for similar tenures. Slice Small Finance Bank also makes a strong showing with 7.75 percent per annum. ESAF Small Finance Bank provides competitive rates of up to 7.60 percent across its one-to-five-year deposit range, while Utkarsh Small Finance Bank offers 7.50 percent. Ujjivan Small Finance Bank rounds out the top contenders in this category with a rate of 7.45 percent for its one-to-five-year fixed deposits, making them a prime consideration for maximizing interest income.

Private Sector Banks Compete

Beyond the small finance sector, several private banks are also presenting enticing fixed deposit opportunities. SBM Bank India is a notable player, offering interest rates up to 7.30 percent per annum for deposits ranging from one to five years. Jammu & Kashmir Bank follows with a rate of 7.25 percent for comparable tenures. Bandhan Bank and RBL Bank are both providing attractive rates of 7.20 percent per annum across their one-to-five-year deposit schemes. DCB Bank offers a rate of 7.15 percent per annum for deposits within the one-to-five-year bracket, and Tamilnad Mercantile Bank rounds out this segment with a rate of 7.10 percent per annum for similar tenures, showcasing a competitive landscape among these financial institutions.

Public Sector Banks' Offerings

While generally offering slightly lower rates compared to private and small finance banks, public sector banks still provide stable investment options. The Bank of India is offering fixed deposit interest rates of up to 6.70 percent per annum for deposit tenures between one and five years. Indian Overseas Bank and Union Bank of India are both offering 6.60 percent per annum across their one-to-five-year deposit ranges. Canara Bank provides a rate of 6.50 percent per annum for deposits within this same tenure bracket. Bank of Baroda and the State Bank of India are offering slightly lower rates of 6.45 percent per annum for their one-to-five-year fixed deposits, presenting reliable, albeit less lucrative, options for savers.

Foreign Banks' Options

Foreign banks also present a range of fixed deposit rates for potential investors. Deutsche Bank is offering competitive interest rates of up to 7.00 percent per annum for deposit tenures spanning one to five years, positioning itself as an attractive option. Standard Chartered Bank provides a rate of 6.60 percent per annum for deposits within the one-to-five-year timeframe. HSBC Bank, on the other hand, offers a rate of 5.50 percent per annum for similar tenures. These rates from foreign banks cater to a different segment of investors, offering varying levels of returns on their fixed deposits within the specified durations.