What Are The Top FD Interest Rates Offered By Top Financiers?
Fixed deposits have been a top pick with investors for decades, and for good reason too. Their high degree of safety and promise of returns makes them an option you can truly count on. But it is important to know that while FD interest rates are not linked to the market, they are sensitive to fluctuations in the repo rate. For instance, in 2018 the RBI revised the repo rate thrice, and hiked it twice to bring it to the current 6.5%. The RBI does so primarily to curb inflation, in order to maintain liquidity in the economy.
What happens when the RBI increases repo rates is that financial institutions typically follow lead and increase the interest rate on their loans and investment offerings. While this may adversely affect borrowers, it is a welcome change for you as a depositor, as you can now earn a higher fixed deposit rates on your investments. However, note that interest rates will still vary across issuers. So before investing, shop around to find institutions that offer the best interest to make the most of your investment amount.
To help you get started, here is a comparison of the best interest rates offered by top issuers in 2019.
FD Interest Rates Offered By Top Issuers In 2019
Following is the comparison of fixed deposit interest rates for a deposit of less than Rs.1 crore and a tenor of 3 years.
| FD issuer | FD interest rates |
| Bajaj Finance | 8.75%–9.10% |
| LIC Housing | 8.25%–8.50% |
| Sundaram Finance | 8.00%–8.50% |
| ICICI Bank | 7.50%–8% |
| Kotak Bank | 7.10%–7.60% |
| Yes Bank | 7.25%–7.75% |
Why Should You Invest In a Bajaj Finance FD?
Apart from higher fixed deposit interest rates, Bajaj Finance also offers other beneficial features to help you make the most of your investment. Take a look at what else you stand to gain.
â— Bajaj FinanceFixed Deposits are rated FAAA by CRISIL and MAAA by ICRA, so your investments are totally safe. It means that you will always get the exact amount promised to you at maturity.
â— You can start an FD with a deposit as low as Rs.25,000.
â— You can choose a flexible tenor ranging from 12 to 60 months, based on your financial goals.
â— You can choose to opt for interest at the end of tenor, or you can also choose periodic interest payouts, based on your convenience.
â— You can enjoy an additional fixed deposit interest rate of up to 0.25% on the renewal of your FD.
â— You can enjoy an additional fixed deposit interest rate of 0.05% when you invest Rs.1 lakh for 15 months instead of 12 months via the special tenor FD scheme.
Finally, you can plan your finances using the fd interest calculator and find out the FD’s maturity amount beforehand. All you have to do is select whether you are a new customer, existing customer or a senior citizen from a drop down menu. Then, choose the type of FD you want to invest in, and make the choice between gaining your interest at end of tenor, or with periodic interest payouts. Enter the FD deposit amount manually or adjust the sliding bar. Lastly, select the tenor you wish to invest for or move the slider until it is at the preferred number. Once you provide these details, the calculator will use the interest rate applicable to display the result under three headers: principal amount, maturity amount, and interest earned.
What’s more, when you strengthen your portfolio with FDs, you can ladder them to meet your needs at regular intervals. Simply evaluate your requirements and match them to FDs of different tenors. This way you will always have liquid funds to meet your expenses, whether they are recurring or non-recurring.
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