Fixed Deposit venture is well known among senior residents. Banks like State Bank of India ( SBI ) and HDFC Bank have expanded the interest rates on FDs after the Reserve Bank of India ( RBI ) declared to hold the repo rate at 4% this time as well .
Regardless of falling interest in the midst of the COVID-19 pandemic, small private banks are offering interest rates up to 7 percent for senior residents on three-year FDs. Let us tell you four such banks, which are offering the most elevated interest rate on three-year FDs to senior residents.
The Deposit Insurance and Credit Guarantee Corporation (DICGC), an auxiliary of RBI, gives an assurance on the sum contributed on fixed deposits for example FDs up to Rs 5 lakh.
IndusInd Bank
Private area IndusInd Bank is offering 7% premium to senior residents on deposits maturity in 2 years to 61 months. These rates are powerful from February 16, 2022.
RBL Bank
RBL Bank offers 7% premium to senior residents on deposits maturity in under two years to three years. These rates are powerful from February 3, 2022. From two years to under three years, the interest rate is 7%.
Yes Bank
Private area Yes Bank gives 7% premium to senior residents on FDs of 3 years. These rates are powerful from 4 January 2022.
Bandhan Bank
Bandhan Bank offers 7% premium on three-year FDs for senior residents. These rates are compelling from 12 January 2022. The bank is offering 7% premium on FDs of 2 years and under 3 years.
Regardless of whether the bank sinks, your cash won’t sink
If the bank sinks in future, the investors won’t deal with any issue. Regardless of whether the bank goes down, they will get their cash back inside 90 days. DICGC, an auxiliary of Reserve Bank of India, gives insurance cover on bank deposits. DICGC gets deposits up to Rs 5 lakh in plans like Savings, Current, Recurring Account or Fixed Deposit (FD) and so on in banks.
If a bank turns into a defaulter, DICGC will pay a maximum sum of up to Rs 5 lakh to every one of its contributors including the chief sum and premium. In case of bank sinking by the central government, clients will be given protection of Rs 5 lakh on bank deposits inside 90 days.
