Compare your bank FD rates

Bank fixed deposits (FDs) continue to be popular investment products, not only among senior citizens, who are looking for guaranteed income, but also among investors who cannot reduce risk. But overexposure to FDs is not good, and you need to assess your asset allocation and goals to decide how much money you should park in them.

For example, saving for your child’s higher education which is 15 years away through FDs may not be effective as the post-tax interest rate of a FD may not give you an actual return (a return that is above the rate of inflation). But if you’re planning to take a vacation in two years, BD can help.

Before choosing BD, you should compare the interest rates available. Here is a list of banks that offer the highest FD rates for deposits up to 1 crore over various tenures.

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Updated: 15 November 2023, 10:04 AM IST

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