Short-term fixed deposits: Earn FD rates up to 8.75%; top banks for highest interest rates for less than 1 year tenure | Business

Highest FD rates: Fixed Deposits (FDs) are a preferred funding choice in India, providing flexibility and steady returns. With phrases starting from 7 days to 10 years, FDs cater to each short-term and long-term buyers. Interest rates on short-term FDs differ throughout banks and are typically greater than financial savings account rates however decrease than long-term FD rates.
Short-term deposits final between 7 days and 12 months. Long-term deposits vary from over 1 year to 10 years. Interest rates for Fixed Deposits (FDs) differ between banks and depend upon the time period size.
Short-term FD rates are greater than financial savings account rates however decrease than long-term FD rates.
According to an ET report by Sneha Kulkarni, listed below are among the highest interest rates supplied by main banks for FDs with tenures beneath one year. The FD interest rates talked about beneath are as per the respective financial institution web sites on April 23, 2024, the report mentioned.
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Private banks FD rates

– HDFC Bank offers interest rates from 3% to 6% for Fixed Deposits with phrases starting from 7 days to just below one year for common clients.
– ICICI Bank gives interest rates between 3% and 6% for FDs with phrases from 7 days to just below one year for common clients.
– Yes Bank offers interest rates starting from 3.25% to 7.25% for FDs with phrases from 7 days to one year for common clients.

Public sector banks FD rates

– State Bank of India (SBI) SBI offers interest rates between 3% and 5.75% for Fixed Deposits (FDs) with phrases from 7 days to one year for common clients.
– Punjab National Bank (PNB) PNB gives interest rates between 3% and seven% for Fixed Deposits (FDs) with phrases from 7 days to one year for common clients.
– Canara Bank offers interest rates from 4% to 6.85% for Fixed Deposits (FDs) with phrases from 7 days to one year for common clients.
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Small finance banks FD rates

– Unity Small Finance Bank gives interest rates between 4.50% and seven.85% for Fixed Deposits (FDs) with phrases from 7 days to one year for common clients.
– Jana Small Finance Bank offers interest rates from 3% to 8.50% for FDs with phrases from 7 days to one year for common clients.
– Suryoday Small Finance Bank gives interest rates between 4% and 6.85% for FDs with phrases from 7 days to one year for common clients.