Top Interest Paying FD Bank: Fixed Deposit (FD), which has been a favorite investment option for a long time, is losing its shine in the dazzling stock market. However, if money is invested after proper research, then one can still get safe returns from FD without any worry.
You can get a return of 9 percent away from the risk of fluctuations in the stock market. There are some small finance banks which are giving up to 9 percent interest to senior citizens on FDs of up to 15 months on deposits of less than Rs 1 crore. Here information is being given about 10 such banks which are giving great interest rates for a period of 15 months. This data has been compiled by Paisabazaar.
These banks are offering strong interest on FD
Equitas Small Finance Bank is offering 9 percent interest on FDs of 444 days duration. Ujjivan Small Finance Bank is offering 8.75 percent interest on FDs of 12 months duration. For 12-month FDs, Bandhan Bank is offering 8.35 percent and IndusInd Bank is offering 8.25 percent interest. DBS Bank is offering 8 percent interest on 376 days FD and Karur Vysya Bank is offering 8 percent interest on 444 days FD. Federal Bank is offering 7.9 percent interest on 400 days FD and Kotak Mahindra Bank is offering 7.8 percent interest on 444 days FD.
How safe is investing in FD?
Investing in FD is quite safe as compared to the stock market. This is a safe investment option for senior citizens as they do not have to deal with fluctuations in it. FD gives a fixed return whereas in the stock market the capital can decrease and in the worst case it can even be lost. On the other hand, there is a risk of bank sinking in investment in FD but here the entire money cannot be lost. Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the central bank RBI, guarantees deposits up to Rs 5 lakh in FD, which means that investment up to Rs 5 lakh will remain safe even if the bank sinks.
