The Reserve Bank of India (RBI) has increased the repo rate by 90 basis points, or 0.9 per cent, to 4.9 per cent in the last two months. After increasing the interest rate by RBI, many private as well as public sector banks have started increasing the interest rates on FDs. This includes many such small finance banks, foreign banks and small private banks, which are offering interest rates of up to 7.4 percent to their customers.
Ujjivan Small Finance Bank: If you make an FD in this bank, you will get an interest of up to 7.4 percent on your deposit. All the small finance banks are giving the highest interest rate to their customers. If you deposit an FD of Rs 1.5 lakh in this bank for five years, then you will get Rs 2.16 lakh at maturity.
Deutsche Bank: This bank is providing up to 7 percent interest rate on FDs to its customers. This is the best interest rate offered by any foreign bank in India. If you invest Rs 1.5 in this, your amount will increase to Rs 2.12 lakh in five years.
Survodaya Small Finance Bank: This small finance bank is offering an interest rate of 6.75 percent on FDs. If you invest 1.5 lakh rupees in this bank, then in five years your amount will increase to 2.1 lakh rupees.
DCB Bank: This bank is offering an interest rate of 6.6 percent on FDs. If you make an FD of 1.5 rupees in this bank for 5 years, then you will get 2.08 lakh maturity.
At the same time, IndusInd Bank and Yes Bank are offering interest rates up to 6.5 per cent on FDs. If you invest 1.5 lakhs for 5 years then you will get maturity 2.08 lakhs. This information is based on the data collected by Bank Bazar till June 29, 2022.