Best Fd Interest Rates With 3 Year Tenure
The FDs can be of tenure ranging from 7 Days to 20 Yr . The ROI for different schemes starts from 7.60% for the general public and 8.10% for senior citizens. The min amount required to open a Fixed Deposit in such scheme is Rs.1,000
Name of Schemes
For General Citizen (p.a.)
For Senior Citizen (p.a.)
|DCB Bank Domestic Term Deposits FD|
|DCB Bank NRE FD|
|DCB Bank NRO FD|
|Jana Small Finance Bank Domestic Term Deposits FD|
|Bajaj Finance Ltd Corporate FD|
|Equitas Small Finance Bank NRO FD|
|Yes Bank NRE FD|
|Bandhan Bank Domestic Term Deposits FD|
|IDFC First Bank NRE FD|
|Equitas Small Finance Bank Domestic Term Deposits FD|
FD Rates for 3-Year TenureThe Indian banks have understood the gravity of the FD interest rates for three years. On 3-year fixed deposits, many banks offer favourable interest rates. Compared to accounts with 1 or 2-year terms, the income earned on 3-year deposits is substantially higher.
Three-year Fixed Deposit HighlightsThe highlights of the FD for three years are as follows:
- The minimum deposit amount is INR 1000
- Bajaj Finance Ltd. Corporate FD offers the highest rate of interest on FD for three years
- Senior citizens get an additional 0.5% interest rate
Advantages of 3-year Fixed DepositAdvantages of a 3-year fixed deposit are:
- It is perfect for short-term saving objectives
- It offers the best FD rates in India for three years
- The loan equivalency is up to 95% of the amount deposited
- It provides provision for nominating a person at the beginning
- Premature withdrawal of the FD requires a penalty to be paid
- Market fluctuations do not interfere with the 3-year fixed deposit
How to Calculate your 3-Year Fixed Deposit Interest Rates?Calculating interest rates through an FD calculator is more convenient than doing the same manually, as it saves time and effort while keeping manual errors at bay. The formula below is used to determine the FD interest amount:
Simple Interest FormulaThe primary interest calculation is: SI = P x R x T/100 Here, "P" stands for the principal sum, "R" for the interest rate, and "T" for the tenure.
Compound Interest FormulaThe formula for compound interest is A = P (1+r/n) ^ (n * t) Here, "P" stands for the principal, "A" for the maturity amount, "R" for the interest rate, "n" for the compounding years, And, "T" for the tenure.
How to Choose the best 3-year fixed deposit for you?You must be aware of the following to choose the best FD for three years:
- The interest rate that the bank or other financial institution offers is the first factor to be evaluated. The maturity amount would increase with a greater interest rate.
- The investor should also choose between a Cumulative and Non-Cumulative FD before investing. This determination helps in determining the frequency of the interest payouts.
- The investor must also mention the fee the institution charges for early withdrawals because they might require money from the scheme in an emergency. The investor should select a programme that charges nominal interest rates.
What Makes Urban Money Ideal for Opening a Fixed Deposit Investment?Urban Money offers its consumers hassle-free banking and financial services with innovative digital solutions. When investors start their investment journey, Urban Money wants to ensure they have a positive experience. Its services validate that investors receive the most effective interest rates on their fixed deposit investments, enabling them to reach their financial objectives easily.
Need Loan Assistance?
Connect with Loan Advisor Now!
Top Bank FD
Top Bank FD Schemes
Frequently Asked Questions
Which bank is best for FD for three years?
Currently, Bajaj Finance Ltd is offering the highest FD rate.
How to choose the best FD scheme for three years?
Knowing a bank or financial institution’s interest rate is essential in choosing the best FD for three years. Potential investors should choose between a Cumulative or Non-Cumulative deposit scheme and, most importantly, pick a program that charges nominal interest rates on premature withdrawal.
What are the factors that affect FD interest rates?
FD tenure, FD type and demand affect the FD interest rates.
What types of Fixed Deposits are available for 3 Years?
Shriram City, KTDFC, Fincare Small Finance Bank, Mahindra Finance, and LVB are a few fixed deposit schemes available for three years.
What happens to my Fixed Deposit if the interest rate goes up or down?
Your fixed deposit will run its course according to the type of fixed deposit chosen by you, irrespective of the interest rate going up or down.