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

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.

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.

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

Axis Bank
Interest rate on three-year FDs: 7.10%
Rs 1 lakh invested for three years will grow to Rs 1.24 lakh

HDFC Bank, ICICI Bank and Punjab National Bank
Interest rate on three-year FDs: 7%
Rs 1 lakh invested for three years will grow to Rs 1.23 lakh

Canara Bank
Interest rate on three-year FDs: 6.80%
Rs 1 lakh invested for three years will grow to Rs 1.22 lakh

State Bank of India
Interest rate on three-year FDs: 6.75%
Rs 1 lakh invested for three years will grow to Rs 1.22 lakh

Bank of India and Union Bank of India
Interest rate on three-year FDs: 6.50%
Rs 1 lakh invested for three years will grow to Rs 1.21 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

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