The current financial year has proved suitable for those investing in fixed deposits due to the increase in interest rates. After increasing the RBI’s repo rate six consecutive times, all the banks have increased the interest rates on FDs. Currently, small finance banks, foreign banks and small private banks are offering the highest interest rate on FDs for three years. At the same time, public sector banks have lagged in this matter.

According to BankBazaar, the average interest rate offered by the top 10 banks on FDs for three years is 7.6 per cent. Today, here we are telling you about the interest rate of the top 10 banks on FD for three years.

It is at the forefront of foreign banks.

Deutsche Bank, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are at the forefront of foreign banks paying the highest interest on FDs. Deutsche Bank pays interest at 7.75 per cent on FD for three years. Similarly, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are also paying 7.75 per cent interest on FDs with a tenure of three years.

Where is the highest interest in private banks?

IDFC First Bank and IndusInd Bank offer the highest interest rates on FDs among the private sector banks of the country. An investment of Rs 1 lakh in the FD of these banks increases to Rs 1.26 lakh in three years. DCB Bank gives 7.60 per cent interest on FDs with a tenure of three years. Rs 1 lakh invested in this bank’s FD scheme will grow to Rs 1.25 lakh in three years.

Union Bank gives more interest to the public sector.

Union Bank of India offers the highest interest rate on FD among central public sector banks. The interest rate on the FD of this bank is 7.30 per cent. Investing Rs 1, lakh will increase to Rs 1.24 lakh in three years. Similarly, Bandhan Bank, City Union Bank and Suryoday Small Finance Bank are ahead among the small finance banks that offer the highest interest on FDs. These banks pay 7.25 per cent interest on FDs with a tenure of three years.

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