FD Rates in India : 11 banks in India currently offer 8% and above interest on FDs: Full list

FD Rates in India : 11 banks in India currently offer 8% and above interest on FDs: Full list .Among the highest fixed deposit rates available in India right now, small finance banks dominate the scene.

Among the highest fixed deposit rates available in India right now, small finance banks dominate the scene. NorthEast Small Finance Bank offers the most competitive rate, providing 9.00% per annum for a tenure of 546 days to 1111 days. This is closely followed by Unity Small Finance Bank, which also offers a 9.00% interest rate for 1001 days.

These small finance banks are consistently offering rates higher than most private and public sector banks, making them a popular choice for risk-averse investors. At least 11 banks are currently offering an interest rate of 8 per cent or more in India right now, as per data shared by Paisabazaar. Here is a table summarizing the banks and their respective rates:

Small finance banks are often favored for their higher rates compared to larger financial institutions. The highest FD rates being offered are as follows:

NorthEast Small Finance Bank: 9.00% for 546 days to 1111 days
Unity Small Finance Bank: 9.00% for 1001 days
Suryoday Small Finance Bank: 8.60% for Above 2 years to 3 years
Jana Small Finance Bank: 8.25% for 1 year to 3 years
Utkarsh Small Finance Bank: 8.50% for 2 years to 3 years; 1500 days
Equitas Small Finance Bank: 8.25% for 888 days
Ujjivan Small Finance Bank: 8.25% for 12 months

Private Sector Banks: Competitive Yet Slightly Lower Rates

Private sector banks offer competitive FD rates, especially for specific tenures.

Bandhan Bank: 8.05% for 1-year tenure
IDFC First Bank: 7.90% for 400 to 500 days
RBL Bank: 8.00% for 500 days
DCB Bank: 8.05% for 19 months to 20 months
IndusInd Bank: 7.99% for 1 year 5 months to less than 1 year 6 months
HDFC Bank: 7.40% for 4 years 7 months (55 months)
ICICI Bank: 7.25% for 15 months to 2 years

Public Sector Banks: Stable and Reliable Options

Public sector banks, while generally offering lower interest rates compared to their private counterparts, still provide stability and security for investors.

Bank of Maharashtra: 7.45% for 366 days
Central Bank of India: 7.50% for 1111 or 3333 days
Bank of Baroda: 7.30% for 400 days – Bob Utsav
Bank of India: 7.30% for 400 days
Canara Bank: 7.40% for 3 years to less than 5 years
Indian Bank: 7.30% for 400 days – IND SUPER
Union Bank of India: 7.30% for 456 days

Foreign Banks: