These banks are giving up to 6.75% return on fixed deposits. Should you invest?

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Bank fixed deposit (FD) is one of the most preferred investment options among the investors who have low risk appetite. Major reason for investors looking at Bank FD as safe hasn is its feature of giving assured return with some extra benefits like over draft facility. However, in the last one year, bank FD interest rates at various banks have gone down drastically. So, it becomes important for FD investors to find which bank is giving high bank FD rates as investment method in fixed deposit in any bank is the same and mere change of bank can yield higher return. Today, when most of the banks are giving FD interest rate to the tune of 5 per cent DCB Bank and Yes Bank are offering FD interest rate up to 6.75 per cent to normal investors. If the investor is a senior citizen, then his FD interest rate goes up by an additional 0.50 per cent higher at 7.25 per cent.

Yes Bank FD interest rates

As per the official website of Yes Bank – yesbank.in, FD interest rates for deposits below 2 crore is from 3.50 per cent to 6.75 per cent. For 7 to 14 days tenure Yes Bank offers 3.5 per cent annual interest rate while for 15 to 45 days tenure, the FD interest rate offered by the private lender is 4 per cent. For 46 to 90 days period, Yes Bank FD interest rate is 4.5 per cent, for 3 months to less than 6 months period Yes Bank FD rate offered is 5 per cent while for 6 months to less than 9 months period FD rate offered is 5.50 per cent. For 9 months to less than 1 year tenure Yes Bank is offering 5.75 per cent FD interest rate for its depositors.

For 1 year to less than 2 year tenure, Yes Bank fixed deposit interest rate offered is 6.25 per cent, for 2 years to less than 3 years FD interest rate at Yes Bank is 6.50 per cent while for all tenor above 3 years to less than or equal to 10 years Yes Bank FD interest rate offered is 6.75 per cent.

Catch for senior citizens: Yes Bank is offering an additional 50 bps FD interest rate on all tenor to the senior citizen depositors. But, for the tenor 3 years and above, it is offering 75 bps or 0.75 per cent additional FD interest rate to the senior citizens.

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Source: Yes Bank website

DCB Bank FD interest rates

According to the official website of DCB Bank – dcbbank.com, FD rates in this bank ranges from 4.25 per cent to 6.75 per cent. For 7 days to 14 days period DCB Bank is offering 4.25 per cent FD interest rate, for 15 days to 45 days period FD interest rate offered is 4.80 per cent, for 46 days to 90 days FD interest rate being given here is 4.75 per cent , for 91 days to less than 6 months period DCB Bank FD interest rate is 5.50 per cent, for 6 months to less than 12 months FD interest rate offered by DCB Bank is 5.95 per cent, for 12 months to less than 15 months DCB Bank is offering 6.05 FD interest rate, for 15 months to less than 18 months tenure FD interest at DCB Bank is 6.35 per cent while for 18 months to less than 700 days DCB Bank is offering 6.50 per cent FD interest rate. For 700 day FD, DCB Bank is offering 6.70 per cent interest rate.

For more than 700 days to less than 36 months period, DCB Bank fixed deposit interest rate is 6.50 per cent while for 36 months and above tenor, DCB Bank is offering 6.75 per cent FD interest rate.

Like any other banks, DCB Bank is offering an additional 0.50 per cent FD interest rate to its senior citizen FD account holders.

Source: DCB Bank official website

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Source: DCB Bank official website

So, those investors for whom FD interest rate is prime, they can look at Yes Bank and DCB Bank as one of the potential bank to park their money for higher FD returns.

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Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

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