New Delhi: By investing in Fixed Deposits (FDs), individuals can realise their dream of building wealth and securing attractive returns without hassle. The trend of generating substantial returns through consistent investment is gaining momentum in India. If you wish to build a large corpus by investing ₹10 lakh, you need not worry.
Investing in FDs is an excellent strategy. Several Small Finance Banks are currently offering impressive interest rates. Even a marginal difference in FD interest rates can significantly boost your total earnings over the long term. This can prove to be a highly beneficial proposition, especially for senior citizens investing large sums, ensuring a smooth and hassle-free experience.
Small Finance Banks Offering Attractive Interest Rates
You will be pleased to know that Small Finance Banks are leading the way in offering the highest returns on an investment of ₹10 lakh. Interest rates of up to 8.10% are being offered by these banks. For instance, Suryoday Small Finance Bank is offering an interest rate of 8.10%.
Utkarsh Small Finance Bank has set its interest rate at up to 8.10%, while Shivalik Small Finance Bank is offering up to 8%. Jan Small Finance Bank and Equitas Small Finance Bank are also offering interest rates of up to 8%. Ujjivan Small Finance Bank provides up to 7.80% interest to investors, and Slic Small Finance Bank offers up to 7.75%. Meanwhile, private sector banks are offering interest rates of up to 7.50%.
Private Sector Banks Also Offering Attractive Interest Rates
Private sector banks are also competing to offer attractive interest rates. You may be familiar with DCB Bank, which is offering investors an interest rate of up to 7.50%. Bandhan Bank is offering interest rates of up to 7.45%, while IDFC First Bank is offering 7.25% to investors.
Kotak Mahindra Bank is offering 6.80% interest to customers, and Axis Bank is offering up to 6.50%. Interest rates of up to 6.50% are available from both HDFC Bank and ICICI Bank.
Find out the interest rates offered by public sector banks
Among public sector banks, Punjab & Sind Bank and Bank of India are also offering attractive interest rates to their customers. According to a report, Punjab & Sind Bank is offering up to 6.85% interest, and Bank of India is also offering up to 6.85%.
Central Bank of India is offering up to 6.75% interest. Bank of Baroda is offering 6.75%, Indian Bank 6.65%, Punjab National Bank 6.60%, and State Bank of India 6.45%.
