Bank Fixed Deposits: THESE banks offer up to 7% return, here’s how it is better than HDFC, Kotak and more

Picture this, the data revealed that small finance banks like AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank were providing interest rates up to 7%. Besides that the DCB bank offered up to 6.75% interest rate, followed by RBL Bank (6.25%) and Bandhan Bank (6%).

Fixed Deposits can be fruitful for people who look for long term investments as it comes with low risk and enables them to diversify the individual’s portfolio. However, people often get confused while choosing a bank to open an FD account and there are certain points that need to be kept in mind while choosing one.  The bank’s interest rate offerings can be the driving factor behind such investments. One needs to be hawkish in deciding which banks are offering the best interest rate at that point in time.   As per the data by BankBazaar, new and small banks are providing higher interest rates against the established players.