Earn 8.75% interest on short-term fixed deposits; the best banks provide the greatest rates for terms less than a year

Maximum rates of FD: In India, fixed deposits (FDs), which provide steady returns and flexibility, are a well-liked investment choice. Both short-term and long-term investors may benefit from FDs, which have periods ranging from seven days to ten years. While short-term FD interest rates vary across banks, they are often greater than savings account interest rates but lower than long-term FD interest rates.

Short-term deposits may be made for one week or up to a year. Long-term deposits may be made for up to ten years. Banks provide different interest rates for Fixed Deposits (FDs), which are contingent on the length of the period.

While long-term FD rates are lower, short-term FD rates are greater than savings account rates.
Some of the best interest rates that top banks are offering for FDs with terms less than a year are listed below, per an ET article written by Sneha Kulkarni. According to the research, the FD interest rates shown below are as of April 23, 2024, according to the corresponding bank websites.

individual banks Rates on fixed deposits (FDs): For regular clients, HDFC Bank offers interest rates on FDs with periods ranging from seven days to slightly less than a year, ranging from 3% to 6%.
– For regular consumers, ICICI Bank provides term lengths ranging from seven days to little under a year, with interest rates between 3% and 6%.
– Yes Bank offers general consumers FDs with durations ranging from 7 days to 1 year at interest rates between 3.25% and 7.25%.
banks in the public sector Rates for fixed deposits (FDs): State Bank of India (SBI) offers interest rates for FDs with periods ranging from seven days to one year to ordinary clients. These rates fall between 3% and 5.75%.
– Punjab National Bank (PNB) PNB provides ordinary clients with Fixed Deposits (FDs) with periods ranging from seven days to a year at interest rates between 3% and 7%.
– Canara Bank offers general clients Fixed Deposits (FDs) with maturities ranging from seven days to a year at interest rates between 4% and 6.85%.

– For regular clients, Unity Small Finance Bank provides Fixed Deposits (FDs) with maturities ranging from seven days to a year at interest rates between 4.50% and 7.85%.
– For regular consumers, Jana Small Finance Bank offers FDs with maturities ranging from seven days to a year at interest rates between 3% and 8.50%.
– Suryoday Small Finance Bank provides ordinary clients with FDs with maturities ranging from seven days to a year at interest rates between 4% and 6.85%.