Maximize Your Returns: Banks Offering 8%+ Interest on FDs

Fixed deposits (FDs) are a popular choice for conservative investors seeking stable returns. Currently, several banks in India offer interest rates over 8% on FDs. Small finance banks lead the pack with the highest rates. Northeast Small Finance Bank offers 9% for tenures between 546 to 1111 days, while Unity Small Finance Bank provides the same rate for 1001 days. Other small finance banks like Suryoday Small Finance Bank and Jana Small Finance Bank offer competitive rates around 8.25% to 8.60%.

Private sector banks also provide attractive rates, though slightly lower than small finance banks. Bandhan Bank and DCB Bank offer 8.05% for specific tenures. Public sector banks, while offering lower rates, are preferred for their stability. Central Bank of India and Bank of Maharashtra provide rates around 7.45% to 7.50%.

Investors should compare rates and tenures to choose the best option for their financial goals. Remember, FD interest is taxable based on your income tax slab.