Three-year FD rates: These banks offer up to 7.25% interest on deposits
Bank of Baroda, SBI, and Union Bank of India among others are some of the leading public sector banks offering the best interest rates on three-year FDs.
Fixed deposits offer liquidity and assured interest income at regular intervals. FDs can be useful while building an emergency corpus. Here are the the top 10 banks (by term deposit holdings) that offer the highest interest rates on three-year fixed deposits. Bankbazaar has compiled the data.
2/10
The key parameter for identifying these banks is their term deposit holdings. The best rates offered by these banks on three-year FDs (of up to Rs 1 crore) for resident, retail, and non-senior citizens have been taken into account. The value is calculated based on quarterly compounding of interest. The data is as of February 5, 2024.
3/10
Bank of Baroda Interest rate on three-year FDs: 7.25% Rs 1 lakh invested for three years will grow to Rs 1.24 lakh
4/10
Axis Bank Interest rate on three-year FDs: 7.10% Rs 1 lakh invested for three years will grow to Rs 1.24 lakh
Indian Bank Interest rate on three-year FDs: 6.25% Rs 1 lakh invested for three years will grow to Rs 1.20 lakh
10/10
The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the RBI, guarantees investments in fixed deposits of up to Rs 5 lakh.
Hiral Thanawala is a personal finance journalist with over 10 years of reporting experience. Based in Mumbai, he covers financial planning, banking and fintech segments from personal finance team for Moneycontrol.
