FD rates: These banks offer up to 7.25% interest on 2-year deposits

Fixed deposits offer liquidity and assured interest income at regular intervals. Thanks to the ample liquidity they promise, FDs can be useful while building an emergency corpus. Here are the top 10 banks by term deposit holdings considered for FDs with a tenure of two years. Bankbazaar has compiled the data.

We have accounted for rates for FDs of up too Rs 1 crore. Only the 10 largest banks by deposit holdings have been considered for this study. These deposit rates are for non-senior citizens. The value is calculated on the basis of quarterly compounding of interest. The data as of January 16, 2024.

Bank of India offers interest rates of up to 7.25 percent on two-year FDs. Among the public sector banks, this bank offers the best interest rates. The sum of Rs 1 lakh invested here will grow to Rs 1.15 lakh in two years.

Axis Bank and ICICI Bank offer interest rates of up to 7.10 percent on two-year FDs. Among the private sector banks, these bank offers the best interest rates. The sum of Rs 1 lakh invested here will grow to Rs 1.15 lakh in two years.

HDFC Bank and State Bank of India (SBI) offer interest rates of up to 7 percent on two-year FDs. The sum of Rs 1 lakh invested here will grow to Rs 1.15 lakh in two years.

Canara Bank and Bank of Baroda offer interest rates of up to 6.85 percent on two-year FDs. The sum of Rs 1 lakh invested here will grow to Rs 1.15 lakh in two years.

Punjab National Bank offers interest rate offers interest rate of up to 6.80 percent on two-year FDs. The sum of Rs 1 lakh invested here will grow to Rs 1.14 lakh in two years.

Indian Bank and Union Bank of India offer interest rates of up to 6.50 percent on two-year FDs. The sum of Rs 1 lakh invested here will grow to Rs 1.14 lakh in two years.

The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the RBI, guarantees investments in fixed deposits of up to Rs 5 lakh.