Whenever it comes to investment, the first thought that comes to everyone’s mind is the stock market. People often advise investing in the stock market for higher returns, but with higher returns, there is also more risk in the stock market.
And it is not necessary that you should turn to the stock market only for higher returns. Today we are going to tell you about those banks which are giving higher interest rates on fixed deposits.
Now you can earn more money by making fixed deposits in these banks. Although these offers of the bank are for everyone but senior citizens are being given priority. Some banks are giving returns up to 10 percent. So today we tell you about 5 such banks which are giving high returns on fixed deposits. The source of the rates given in this list is Paisa Bazaar.com.
Unity Small Finance Bank
Unity Small Finance Bank tops the list with FD rates of 7.85% for 1-year tenure, 8.15% for 3-year and 5-year tenure and a maximum rate of 9% for regular customers. Senior citizens get an additional 50 basis points (bps), taking their rate to 9.50%.
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Utkarsh Small Finance Bank
Utkarsh Small Finance Bank offers 8% interest on 1-year FDs, 8.50% for 3 years and 7.75% for 5 years. Senior citizens get an additional 60 basis points (bps), taking their FD rate to 9.10%.
Shivalik Small Finance Bank
Shivalik Small Finance Bank offers 6% rate on 1 year FD, 7.50% rate for 3 years and 6.50% rate for 5 years. Senior citizens are offered a rate of 9.05%.
Jana Small Finance Bank
Jan Small Finance Bank offers 1 year and 3 year FD rates at 8.25%, while 5 year tenure is available at 7.25%. Senior citizens get the highest interest rate of up to 8.75%.
DCB Bank
DCB Bank offers a return of 7.10% on 1-year FD, 7.55% for 3 years and 7.40% for 5 years. Senior citizens get the highest FD rate of 8.55% with an additional 50 bps.
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