Following the Reserve Bank of India’s repo rate cut, several banks have adjusted their fixed deposit interest rates. While many have lowered rates, some still offer attractive returns on three-year FDs, making them a solid choice for investors seeking stable earnings.
Equitas Small Finance Bank leads with 7.75% interest for the general public and 8.25% for senior citizens, turning a ₹1 lakh deposit into ₹1.26 lakh and ₹1.28 lakh, respectively. AU Small Finance Bank follows with 7.5% for regular investors and 8% for seniors, growing ₹1 lakh to ₹1.25 lakh and ₹1.27 lakh.
Canara Bank offers 7.2% interest for the general public and 7.7% for seniors, while Bank of Baroda provides 7.15% and 7.65%, respectively. Larger banks like State Bank of India and Punjab National Bank offer 6.75% for regular investors and 7.25% for seniors.
With FD rates fluctuating, investors should compare options before locking in deposits. Senior citizens, in particular, can benefit from higher interest rates, ensuring better returns on their savings.
