3 Bank Fixed Deposits To Invest For 8.5% To 9.5% Interest Rates

Interest rates have risen and risen sharply over the last few quarters. The fears of elevated interest rates staying here for longer has pushed interest rates too significantly higher levels than they were before. The good news for fixed deposit investors is that interest rates could further increase going ahead. Let us take a look at the banks that are giving you fantastic interest rates.

Unity Small Finance Bank Fixed Deposit Interest Rates

When we say small finance bank, there are not too much worries, given that they have to meet compliance and are regulated by the RBI. Apart from this, fixed deposits upto Rs 5.5 lakhs are insured. A 1001 days deposit at Unity Small Finance Bank offers an interest rate of 9% for regular depositors and 9.5% for senior citizens. This is the maximum interest rates one gets, which is why we have highlighted the best interest rate with the best tenure.

Suryoday Small Finance Bank Fixed Deposit interest rates

The 999-days deposit at Suryoday Small Finance Bank offers the best interest rate on fixed deposits with an interest rate of 8.51% for regular depositors and 8.76% for senior citizens. The deposits for regular individuals have an option for the above 1 Year 6 Months to 2 Years deposit where the interest rate offered by the bank is 8.01% for regular depositors and 8.51% for senior citizens. Investors can look for the deposits at Suryoday Small Finance with a slightly longer tenure.

Platina Fixed Deposits from Ujjivan Small Finance Bank

If you opt for the Platina Fixed Deposits, you get an interest rate of 8.65% on the fixed deposits. This if we you keep the deposits for 80-weeks. However, the minimum amount that one has to place in the Platina Fixed Deposits is Rs 15 lakhs and above upto Rs 2 crores. Senior Citizens are not granted that extra interest on the Platina Fixed Deposits. Again, this is the highest interest rate that we have highlighted from the bank.

Most small finance banks in the country offer superior interest rates, when compared to the larger full fledged commercial banks. People have often questioned the safety of small finance banks, however, thus far there have been no cases of worries.