Starting an FD? Here are the top rates offered by private and public banks
Navigating fixed deposit options: A comprehensive guide to top rates across different banks
 "Starting an FD? Here are the top rates offered by private and public banks")
If you are planning to invest, bank fixed deposits (FDs) are popular among investors seeking stable returns and capital preservation. These are considered low-risk investments because they offer guaranteed returns. Business Standard has categorised FD rates by different types of banks, such as Small Finance Banks, Private Sector Banks, Public Sector Banks, and Foreign Banks, giving users the option to select the best option for their needs.
Among the various small finance banks offering fixed deposit rates, Unity Small Finance Bank stands out with the highest interest rate of 9.00 per cent for a tenure of 1001 days. Equitas Small Finance Bank follows closely with a competitive rate of 8.50 per cent for a specific duration of 444 days. Utkarsh Small Finance Bank also offers an enticing rate of 8.50 per cent for a tenure ranging from 2 years to 3 years. AU Small Finance Bank is offering an interest rate of 8 per cent for an 18-month tenure. Jana Small Finance Bank offers 8.50 per cent for a 365-day tenure. Ujjivan Small Finance Bank provides a steady interest rate of 8.25 per cent for an FD for both 80 weeks and 12 months.
Among the private sector banks SBM Bank India offers one of the most attractive rates at 8.25 per cent for a tenure of 3 years and 2 days, making it a top choice for those seeking higher returns over a more extended period. RBL Bank follows closely with an interest rate of 8.10per cent for a tenure ranging from 18 months to 2 years.
YES Bank also emerges as a strong contender, offering an interest rate of 7.75per cent for an 18-month to less than 2 years tenure. IndusInd Bank and IDFC First Bank both present competitive rates of 7.75 per cent, each tailored to tenures of 1 year to 2 years and 549 days to 2 years.Moving towards the moderate interest rate range, Axis Bank, HDFC Bank, and Kotak Mahindra Bank offer options with rates ranging from 7.20 per cent to 7.40per cent.City Union Bank and Nainital Bank are offering interest rates of 7.00 per cent and 7.05 per cent, respectively.
Among the public sector banks offering fixed deposit rates, several institutions provide competitive options for investors with varying preferences.Bank of Baroda offers a compelling interest rate of 7.25 per cent for a duration above 2 years to 3 years. Canara Bank and Union Bank of India provide competitive rates of 7.25per cent for tenures of 444 days and 399 days.
State Bank of India is offering 7.10 per cent interest rate for a 400-day tenure under the Amrit Kalash scheme. Bank of India and Indian Bank are offering rates of 7.25 per cent, each tailored to a 2-year tenure. Bank of Maharashtra, Central Bank of India, Indian Overseas Bank, and Punjab National Bank offer interest rates ranging from 6.50 per cent to 7.25 per cent.Punjab & Sind Bank offers a distinct option with a 7.40 per cent interest rate for a 444-day tenure.
Among the international banks providing fixed deposit options, Deutsche Bank offers an attractive interest rate of 8 per cent for a duration above 1 year to 3 years. HSBC Bank provides an option with a 7.25 per cent interest rate for a specific tenure of 732 days to less than 3 years.Standard Chartered Bank offers a competitive interest rate of 7.50 per cent for a duration of 2 years to less than 3 years.