Highest FD Interest Rates in 2024: This small finance bank is providing 9% interest on 1001-day FD; know what others are offering

Highest FD Interest Rates: Fixed deposits (FDs) are guaranteed return income instruments where one deposits a one-time amount at the beginning and gets interest in the form of a return. The FD policyholder can opt for a monthly, quarterly, half-yearly, or annual interest deposit. FDs vary in time and interest rates. The popular FD options are 1-year, 3-year, and 5-year. The advantage of investing in a 5-year FD is that it provides tax benefits on deposits up to Rs 1.50 lakh in a financial year. 

Like public and private banks, a lot of small finance bank also offer FDs.

Their FD interest rates are mostly slightly higher than those of the banks.

Here is a list of the top FD rates provided by small finance banks (data source: Paisabazaar.com). 

Unity Small Finance Bank

The NBFC is offering the highest interest rate of nine per cent among all public and private banks and NBFCs.

Unity Small Finance Bank is offering a nine per cent interest rate for its 1001-day FD.

The interest rate for the small finance bank 1-year FD is 7.85 per cent, while its 3-year, and 5-year FDs are offering 8.15 per rates each.

Suryoday Small Finance Bank

The NBFC is offering its highest interest rate of 8.65 per cent in its two-year-two-day FD.

Interest rates for the small finance bank 1-year, 3-year, and 5-year FDs are 6.85 per cent, 8.60 per cent, and 8.25 per cent, respectively.

Utkarsh Small Finance Bank

The NBFC offers its highest interest rate of 8.50 per cent in its two-year, three-year, and 1500-day FDs.

The interest rate in its 1-year FD is 8.00 per cent, while its 3-year and 5-year FDs are offering rates of 8.50 per cent and 7.75 per cent, respectively. 

Ujjivan Small Finance Bank

The small finance bank's highest interest rate is 8.50 per cent, which it offers in its 15-month FD.

The interest rate for its 1-year FD is 8.25 per cent, while the 3-year and 5-year FDs offer an interest rate of 7.20 per cent each.

Northeast Small Finance Bank

The small finance bank offers its highest interest rate of 8.50 per cent in its 555-day and 1,111-day FDs.

The interest rate for its 1-year FD is 7.75 per cent, while the same for 3-year and 5-year FDs are 8.00 per cent and 6.25 per cent. 

Jana Small Finance Bank

It offers its highest interest rate of 8.50 per cent in its 365-day (1 year) FD.

The interest rates for its 3-year and 5-year FDs are 7.25 per cent each. 

Equitas Small Finance Bank

It offers its best interest rate of 8.50 per cent in its 444-day FD.

The interest rate for its 1-year FD is 8.20 per cent, while FD rates for its 3-year and 5-year FDs are 8.00 per cent and 7.25 per cent, respectively.