These banks are offering the highest interest on 1 year FD

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FD- India TV Paisa
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FD

Highlights

  • Bank FD is considered the safest investment medium
  • Instant withdrawal facility when you need money
  • Know about the bank before making an FD

New Delhi. Fixed Deposit (FD) is the safest medium among common people even after all the investment options are available. Banks give the option to investors to get FD from 7 days to 10 years. The interest rate depends on the investment tenure. In such a situation, if you are thinking of getting FD for 1 year, then we are giving you a list of top five banks that pay the highest interest. You can get FD in any of these five banks as per your convenience.

returns for common investors

Bank Interest Rate (%) Compounded Quarterly return on 10 thousand deposit
Bandhan Bank 5.25% 10535.43
IDFC First Bank 5.25% 10535.43
DCB Bank 5.55% 10566.66
indusind bank 6% 10613.64
RBL Bank 6% 10613.64

Returns for Senior Citizens

Bank Interest Rate (%) Compounded Quarterly return on 10 thousand deposit
Axis Bank 5.25% 10535.43
IDFC First Bank 5.25% 10535.43
DCB Bank 5.55% 10566.66
indusind bank 6% 10613.64
RBL Bank 6% 10613.64

Interest hike begins

After the Corona epidemic, banks had made a big cut in the interest rates on FD, but once again the period of increase has started. State Bank of India (SBI), HDFC Bank (HDFC) and Kotak Mahindra Bank have recently increased interest on FDs. According to SBI’s website, the bank has increased the interest rate by 0.10 percent in case of FDs of less than Rs 2 crore and on FDs with maturity period of 1 year and above but less than 2 years.

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