Top Banks Fd With Highest Return

The FDs can be of tenure ranging from 7 Days to 20 Yr . The ROI for different schemes starts from 3.00% to 8.50% for the general public and 3.50% to 9.00% for senior citizens. The min amount required to open a Fixed Deposit in such scheme is Rs.1,000

Name of Bank

For General Citizen (p.a.)

For Senior Citizen (p.a.)

Jana Small Finance Bank Domestic Term Deposits FD

3.00% to 8.50%

3.50% to 9.00%

Equitas Small Finance Bank NRO FD

3.50% to 8.50%

4.00% to 9.00%

Bandhan Bank Domestic Bulk Term Deposits FD

3.00% to 8.35%

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Equitas Small Finance Bank NRE FD

7.25% to 8.25%

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Equitas Small Finance Bank Domestic Term Deposits FD

3.50% to 8.25%

4.00% to 8.75%

Bajaj Finance Ltd Domestic Term Deposits FD

7.40% to 8.05%

7.65% to 8.30%

RBL Bank NRO FD

3.50% to 8.00%

4.00% to 8.50%

Duetsche Bank NRO FD

3.00% to 8.00%

3.00% to 8.00%

Duetsche Bank Domestic Term Deposits FD

3.00% to 8.00%

3.00% to 8.00%

Duetsche Bank NRE FD

7.00% to 8.00%

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Highest Return FD Banks

A fixed deposit is an investment tool that promises higher interest rates on the deposited amount over a set tenure. A deposit is made keeping in mind the interest return offered by the financial institution or bank. The FD with the highest return is one factor that must be considered when investing in fixed deposits. Let's look at which bank gives the highest return on FD.

Types of Fixed Deposits

The types of fixed deposits in India are:

Bank Fixed Deposits

The bank offers this type of fixed deposit to its existing customers. Apart from providing the highest return in FD, some banks provide insurance of INR 5 lakhs.

Company Deposits

Company or Corporate deposits are a type that has the highest FD return. It is vital to understand that the higher interest rate is not enough; one needs to determine the company their funds will be invested in. One can refer to CRISIL or ICRA to establish credit ratings.

Cumulative Fixed Deposits

As the name suggests, Cumulative FD accumulates returns and hands out the interest at maturity. The tenure is between 12 to 60 months.

Non-Cumulative Fixed Deposits

Non-cumulative FDs promise interest returns periodically. The range of this FD is 12 to 60 months, and the benefit is that the short-term financial needs get met thanks to the consistent interest payments.

Tax Saving Fixed Deposits

This is an FD type which promises a tax deduction on amounts of up to INR 1.5 lakhs under Section 80C of the Income Tax Act. The tenure is fixed at five years.

Senior Citizen Fixed Deposits

This FD type is designed for seniors 60 or above. An additional 0.25% to 0.75% is provided on the amount compared to the individuals.

NRI Fixed Deposits

This is curated to protect NRIs from market volatility and provide a higher return rate. The tenure of this FD is 12 to 60 months.

Standard/Regular Fixed Deposits

Under this FD type, the interest rate is fixed for a specified time frame. Deposited for 1-10 years, the banks and financial institutions provide a higher interest rate.

How to Calculate Fixed Deposit?

The following formula is used to calculate the FD interest amount:

Simple Interest Formula.

The simple interest formula is

SI = P x R x T/100.

Here,

‘P’ is the principal amount,

‘R’ is the interest rate,

 and

‘T’ is the tenure.

Compound Interest Formula

The compound interest formula is

A = P (1+r/n) ^ (n * t).

Here,

‘P’ is the principal amount,

‘A’ is the maturity amount,

‘R’ is the interest rate,

‘n’ is the number of years compounding,

and

‘T’ is the tenure.

How to choose the best Fixed Deposit for you?

Choosing the best FD for yourself is more than just answering the question - which bank gives the highest return on FD? The following instructions are how you choose the best FD:

  • Compare the bank’s FD interest rates
  • Check the lender's integrity by looking at the ICRA or CRISIL fixed deposit safety rating.
  • Select a fixed deposit type
  • Pick a bank that provides friendly customer service and a simple FD opening process.

Why Urban Money for Fixed Deposit Investment?

One should choose Urban Money for fixed deposit investment for the following reasons:

  • It promises the highest FD to return
  • It saves time and is cost-effective
  • Urban Money is easy to use
  • It is a reliable medium

Frequently Asked Questions (FAQs)

Which FD gives the highest returns?

The FD rates can range from 6.20% – 7.40% for the general public and 6.45% – 7.65% for senior citizens.

Which bank has the highest interest rate for FD?

Bajaj Finance Ltd. Corporate FD is the highest FD return bank.

Which FD scheme is best?

According to Urban Money, Corporate FD is the best scheme.

What is the minimum period for a fixed deposit?

The minimum period for a fixed deposit is seven days.

What minimum amount can be deposited in an FD account?

The minimum amount can be deposited in an FD account is INR 100.

Am I eligible to invest in Fixed Deposit?

An Indian resident of HUF, joint account holders, specially-abled, sole proprietorship, institutions and NRIs are eligible for fixed deposit.

Can I get monthly interest on a fixed deposit?

Yes, you can get monthly interest on a fixed deposit.

What are the factors that affect FD interest rates?

If the demand for credit is high, the banks will increase interest rates and vice versa.

Urban Money