Fixed Deposit has been the most preferred form of investment for risk-averse investors. The FDs help you to keep your money safe with the bank while earning returns, which is more than the interest offered on saving deposits. With fixed deposits, you can keep a fixed amount for a certain duration of time ranging between 7 days & 10 years, according to your needs.
For a secured future, everyone believes in savings, no matter if they are from a public/private sector or a small-scale farmer. Fixed Deposit is extremely beneficial for everyone including Farming Community.
You have an option to receive the interest of your deposit monthly or quarterly. Not only this, but you can also choose to reinvest your FD interest. However, the FD interest has come down in recent years & investing for the long term might not yield the expected results. So now more buyers prefer to invest in short-term FD plans that could help them in earning a good return without risking their hard-earned money.
If you also looking for such Fixed Deposit Plans, then read on to know about 4 Private Banks, offering the highest rate of return in 3 years-Fixed Deposit.
Banks with High Fixed Deposit Returns
Below we have mentioned the top 4 private banks.
Yes Bank
With the fixed deposit interests starting at 3.23% for the 7 to 14 days duration bracket, YES Bank’s FD return goes up to 6% for 18 months to 3 years bracket. The interest rate for a senior citizen is 6.50%. Additionally, there is an extra 0.14& bonus on annualized yield. All rates are only applicable to the FDs less than Rs 2 crore in value.
RBL Bank
The RBL Bank recently revised its FD interest rates & with new rates in action, the rate on return on the bank FD plan for an amount less than Rs 3 crore & the period between 24 – 36 months is 6.00% p.a. Additionally, the bank is offering 0.50% extra interest to the senior citizens.
Bandhan Bank
Bandhan Bank’s FD returns start with 3% for 7 to 14 days of duration bracket & go up to 5.5% for deposits done for 1 – 3 years. The senior citizens are entitled to an additional 0.75% return on the interest offered to the normal investors.
IndusInd Bank
The FD interest rate is offered by the IndusInd Bank is 6% for deposits between 1 & 3 years duration. The senior citizens, however, get an additional 0.5% interest over the usual return.
For more details, you can visit your nearest bank branch.
