There was a time when Indian banks used to offer double digit interest on FDs. But those days are long gone. Now even State Bank offers around 7% interest on FDs. In such a situation, there are some banks that are offering 9% interest on fixed deposits for retail investors.
Higher interest to senior citizens
There are banks that are offering up to 9% interest rate per annum on fixed deposits for retail depositors. This is usually on amounts less than Rs 3 crore. Moreover, senior citizens can get even higher interest rates on fixed deposits, which is usually higher by 0.25% to 0.50%. Here is a complete list of banks offering up to 9% interest on fixed deposits for a period of three years and less than Rs 3 crore for individuals below 60 years of age.
North East Small Finance Bank
North East Small Finance Bank is offering 9% interest rate to common citizens on FDs maturing in three years. Suryoday Small Finance Bank is also offering 8.6% interest rate to common citizens on its FDs maturing in three years.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank is offering 8.5% interest rate to common citizens on FDs maturing in three years. Jana Small Finance Bank is also offering 8.25% interest rate on FDs maturing in three years.
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Unity Small Finance Bank
Unity Small Finance Bank is offering an interest rate of 8.15% on FDs maturing in three years. Equitas Small Finance Bank FD RatesEquitas Small Finance Bank is offering an interest rate of 8% on FDs maturing in three years.