Bank Fixed Deposit or Bank FD is one of the most preferred investment options among all sections of society. Through Bank FD, one not only gets liquidity for emergency but a better interest rate than on one's money in savings accounts. Hence, Bank FD is considered an evergreen investment option across India. From November 10 onwards, the State Bank of India or SBI has decreased its Bank FD interest rates and now SBI customers will get 4.5 per cent to 6.25 per cent. following SBI, other banks have also decreased their bank FD interest rates. Interestingly, there are some banking options which are giving more than 8 per cent! These are better returns than even by debt mutual fund investment options with zero risk.

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Those investors who want to garner over 8 per cent returns on their bank FD can check out these banking options — PNB Housing Finance, Bajaj Finserv, Fincare Small Finance Bank, Utkarsh Small Finance Bank and Suryoday Small Finance Bank. The PNB Housing Finance is giving interest rates in bank FD from 8.05 per cent to 8.45 per cent for customers below 60 years of age. For Senior Citizen PNB Housing Finance customers, the bank FD interest rate offered is 8.30 per cent 8.70 per cent. Bajaj Finserv is giving 8 per cent to 8.35 per cent bank FD interest rate to its customers below 60 years of age while for its senior citizen customers bank FD interest rate offered is 8.35 per cent to 8.70 per cent.

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Apart from these, there are some small finance banks that are offering a whopping up to 9 per cent Bank FD interest rate. Fincare Small Finance Bank is one such bank that offers up to 9 per cent Bank FD interest rate. According to the official website of Fincare Small Finance Bank — fincarebank.com/interest-rate — the small banking company is offering 4 per cent returns on all Bank FD from 7 days to 90 days, on 91 to 180 days Bank FD the interest rate offered is 6 per cent, on Bank FD from 181 days to 364 days interest rate offered is 7.0 per cent, from 12 month to 18 month Bank FD interest rate offered by Fincare Small Finance Bank is 8.0 per cent while for Bank FD for the period of 18 month 0ne days to 21 months interest rate offered is 8.25 per cent while for 21 months one day to 24 months Bank FD Fincare Small Finance Bank is offering 8.50 per cent interest rate. However, for Fincare Small Finance Bank fixed deposits for the period of 24 months one day to 36 months interest rate offered is whopping 9 per cent.

Source: Fincare Small Finance Bank official wevsite

Another small finance bank Utkarsh Small Finance Bank is also trying to match the Fincare Small Finance Bank when it comes to offering Bank FD interest. The Utkarsh Small Finance Bank is giving Bank FD interest rate up to 8.5 per cent to its customers who are below 60 years of age. According to the official website of Utkarsh Small Finance Bank — utkarsh.bank/public/web_public/pdf/Retail_Card_Rate_for_FD_&_RD_18102019.pdf — on all Bank FD for the period of 7 days to 45 days, interest rate offered is 4.75 per cent, on 46 to 90 days Bank FD interest rate offered is 5.50 per cent, on Bank FD from 91 to 180 days interest rate offered is 6.75 per cent, for Bank FDs from 181 to 270 days interest rate offered is 7.0 per cent, on Bank FD from 271 days to less than one year interest rate that an investor can get is 7.25 per cent, For one year to 455 days Bank FD interest rate is 8.20 per cent while for the period of 456 days to less than two years Bank Fd interest rate is 8.50 per cent.

Source: Utkarsh Small Finance Bank official website

Trying to compete against its small finance banks Suryoday Small Finance Bank is not far behind. According to its official website — suryodaybank.com/deposits/fixed-deposit/rate-of-interest — the Bank FD interest rate for the period of 7 days to 45 days is 4.0 per cent, for Bank FD for the period of 46 days to 90 days the interest rate offered is 5.0 per cent, the Bank FD interest rate for the period of 91 days to 6 months is 5.50 per cent, Bank FD interest rate for the period of above 6 months to 9 months is 7.50 per cent, for above 9 months to less than 1 Year Bank Fd interest rate offered is 7.75 per cent, Bank Fd interest rate for 1 Year to 1 Year 6 months is 8.35 per cent, Bank FD interest rate for the period of above 1 year 6 months to 2 years is 8.5 per cent, for above 2 Years to 3 Years Bank Fd interest rate offered is 8.75 per cent.

Source: Suryodaya Small Finance Bank official website