
10 Indian Banks Offering FDs With Interest Rates Over 8%
Fixed deposits (FDs) continue to be a preferred investment choice for individuals seeking safe and reliable returns. With increasing competition, several Indian banks now offer FD interest rates exceeding 8%, providing an attractive opportunity for investors. Here's a detailed look at the top banks offering such high returns in January 2025.
1. NorthEast Small Finance Bank
- Interest Rate: 9%
- Tenure: 546 to 1111 days
NorthEast Small Finance Bank leads the list with the highest FD rates, catering to medium-term investors.
2. Unity Small Finance Bank
- Interest Rate: 9%
- Tenure: 1001 days
Unity Bank stands out for its competitive rate on a 1001-day fixed deposit.
3. Suryoday Small Finance Bank
- Interest Rate: 8.60%
- Tenure: 2 to 3 years
This bank offers a steady option for those seeking long-term returns.
4. Utkarsh Small Finance Bank
- Interest Rate: 8.50%
- Tenure: 2 to 3 years
Utkarsh is ideal for individuals looking to invest for medium durations with assured returns.
5. Jana Small Finance Bank
- Interest Rate: 8.25%
- Tenure: 1 to 3 years
Jana Bank provides flexible tenures for investors with competitive rates.
6. Equitas Small Finance Bank
- Interest Rate: 8.25%
- Tenure: 888 days
Equitas offers a unique tenure option of 888 days with high returns.
7. Ujjivan Small Finance Bank
- Interest Rate: 8.25%
- Tenure: 12 months
This bank provides short-term investment options with significant returns.
8. SBM Bank India
- Interest Rate: 8.25%
- Tenure: Above 18 months to less than 2 years 3 days
SBM Bank India offers flexibility in tenures while maintaining high interest rates.
9. Bandhan Bank
- Interest Rate: 8.05%
- Tenure: 1 year
Bandhan Bank's 1-year fixed deposit plan is an excellent option for short-term investors.
10. DCB Bank
- Interest Rate: 8.05%
- Tenure: 19 to 20 months
DCB Bank rounds off the list with its attractive medium-term FD scheme.
Key Considerations for FD Investors
- Compare Tenures: Ensure that the tenure aligns with your financial goals.
- Senior Citizen Benefits: Many banks offer an additional 0.25% to 0.50% interest for senior citizens.
- Tax Implications: FDs are taxable, so factor in the post-tax returns before investing.
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Maximizing Your Returns
With interest rates exceeding 8%, these FDs offer excellent opportunities for growth. However, diversify your portfolio to mitigate risks and optimize overall returns.
Stay updated with the latest financial trends and secure your savings wisely.