Which bank gives the Best returns on Fixed Deposits

 Fixed deposits offer assured returns on principal, eliminating any risk of loss. Hence, they are a popular form of investment in India. However, since there are so many banks as well as non-bank finance companies that a person can be left spoiled for choice regarding where to park their money. If you find yourself in a similar situation, then this blog post is for you. Here you will learn about all the leading organizations offering the highest fixed deposit interest rates. This will help you make an informed decision regarding where to place your savings for the best returns. So, without any further ado, let us begin. 

Shriram Transport Finance Fixed Deposit Interest Rates

One of the leading NBFCs in India, Shriram Transport Finance offers up to 8.25 percent annual interest rates on FDs of up to INR five crores. Moreover, senior citizens, people who are aged 60 years or above, can enjoy 0.50 percent higher interest rates on their Shriram Transport Finance fixed deposits. 

SBI Fixed Deposit Interest Rates

State Bank of India, simply referred to as SBI, is the largest bank in the country on several fronts. It is also one of the most sought-after banking partners for Indians. While regular citizens can enjoy up to 6.10 percent SBI fixed deposit interest rates, senior citizens can get up to 6.45 percent interest on the principal on term deposits of up to INR two crores.  

HDFC Bank Fixed Deposit Interest Rates

The largest private sector bank in India, HDFC Bank offers regular citizens up to 6.10 percent interest rates, while senior citizens can get up to 6.60 rates of return on FDs. Please note that these HDFC fixed deposit rates are applicable on fixed deposits of up to INR two crores and tenures of three to five years. 

Axis Bank Fixed Deposit Interest Rates

With Axis Bank, another prominent name in the Indian private banking space, you can get up to 6.05 percent FD interest rates as a regular citizen and Axis Bank FD rates of up to 6.80 as a senior citizen. 

Mahindra Finance Fixed Deposit Interest Rates 

Another well-known NBFC in India, especially in the vehicle financing space, Mahindra Finance offers high interest rates on term deposits. Mahindra Finance FD interest rates for regular and senior citizens can go up to 7.40 and 7.65 percent, respectively. Thus, the company offers one of the highest interest rates on fixed deposits in India. 

Now, that you know the FD interest rates offered by the leading banks and NBFCs in India, you can make a wise decision about where to park your savings.