Top 5 Bank FDs are offering interest rates of up to 7.3% for eligible customers, according to the latest comparison.
A ₹10,000 lump-sum investment in some of these fixed deposits could grow to around ₹12,405 over three years.
Fixed deposits remain a popular savings option because the interest rate is predetermined for the chosen tenure.
Both private and public sector banks offer FD products with different interest rates, tenures and conditions.
Top 5 Bank FDs Offer Up to 7.3% Interest
The comparison covers five banks offering annual FD interest rates between 7% and 7.3%.
Bandhan Bank and IDFC FIRST Bank are listed at the top with a 7.3% interest rate.
RBL Bank offers 7.2%, while DCB Bank and IndusInd Bank offer 7% in the comparison.
The returns mentioned are based on a ₹10,000 investment for three years.
₹10,000 FD Can Grow to ₹12,405
At a 7.3% annual interest rate, ₹10,000 invested in Bandhan Bank is shown as becoming ₹12,405 after three years.
IDFC FIRST Bank is also shown with an estimated maturity amount of ₹12,405 for the same investment and rate.
At 7.2%, an investment of ₹10,000 in RBL Bank is shown at ₹12,387 after three years.
DCB Bank and IndusInd Bank, with a 7% rate, are shown at ₹12,314 for the same investment period.
FD Returns Depend on Bank and Interest Rate
The comparison shows how even a small difference in the interest rate can affect the maturity amount over a fixed period.
The actual interest earned can also depend on the bank’s compounding frequency and the specific FD terms applicable to the customer.
FDs can generally be closed before maturity when money is needed, although premature withdrawal may involve a reduction in interest or other applicable conditions.
What to Check Before Booking an FD
Before opening an FD, investors should check the applicable interest rate, tenure, premature withdrawal rules and the conditions attached to the particular deposit.
Rates can also differ based on customer category and the tenure selected.
The figures in this comparison should therefore be treated as indicative rather than a guarantee of the exact maturity amount for every customer.
Investors should verify the latest rate and FD terms with the respective bank before making a deposit.