Top 4 Banks Offering Returns Up To 6.75% On 1 Year Fixed Deposits

Investing in fixed deposits is always favoured when it comes to investing your funds for a predetermined tenure and generating returns at a predetermined interest rate, whether you have a short or long-term financial objective. Fixed deposits have a number of advantages, including a competitive interest rate, no market risk, additional interest rate benefits for elderly citizens, and the option of monthly interest payments. Fixed Deposits (FDs) are among the finest investment alternatives for those who want to earn consistent returns without subjecting themselves to fluctuating risk of investments that includes market-based returns. So debt investors who want to invest for the short-term let's assume about 1 year only, here are the top 4 banks in India, that are now promising returns up to 6.75% on fixed deposits of less than Rs 2 Cr maturing in 1 year.

Jana Small Finance Bank

Jana Small Finance Bank is currently the only bank that is offering an interest rate up to 6.25% to the general public and 6.75% to senior citizens on a deposit of 1 year. The bank has last revised its interest rates on fixed deposits on 07.05.2021 which are as follows.

Tenure	Regular FD Interest Rate (p.a.)	"Senior Citizen FD Interest Rate (p.a.)
7-14 days	2.50%	3.00%
15-60 days	3.00%	3.50%
61-90 days	3.75%	4.25%
91-180 days	4.50%	5.00%
181-364 days	5.50%	6.00%
1 Year[365 Days]	6.25%	6.75%
Source: Bank Website, Effective Date 07/05/2021

Ujjivan Small Finance Bank

Among the list of small finance banks, Ujjivan Small Finance Bank is now the second in our list that is offering an interest rate of 6.00% to regular customers and 6.50% to senior citizens on deposits amount of less than Rs 2 Cr maturing in 1 Year to 2 Years.

Tenure	Regular FD Interest Rate (p.a.)	"Senior Citizen FD Interest Rate (p.a.)
7 Days to 29 Days	2.90%	3.40%
30 Days to 89 Days	3.50%	4.00%
90 Days to 179 Days	4.25%	4.75%
180 Days to 364 Days	4.75%	5.25%
1 Year to 2 Years	6.00%	6.50%
Source: Bank website, with Effect from 16th August 2021

IndusInd Bank

Among the leading private sector banks, IndusInd Bank is the bank that is currently promising an interest rate of 6% to the general public and 6.50% to senior citizens on deposits of less than Rs 2 Cr maturing in 1 year to below 1 year 6 months. With effect from July 23rd, 2021 the bank is offering the following interest rates.

Tenure	Regular FD Interest Rate in % (p.a.)	"Senior Citizen FD Interest Rate (p.a.)
7 days to 14 days	2.5	3
15 days to 30 days	2.75	3.25
31 days to 45 days	3	3.5
46 days to 60 days	3.25	3.75
61 days to 90 days	3.4	3.9
91 days to 120 days	3.75	4.25
121 days to 180 days	4.25	4.75
181 days to 210 days	4.6	5.1
211 days to 269 days	4.75	5.25
270 days to 354 days	5.5	6
355 days to 364 days	5.5	6
1 Year to below 1 Year 6 Months	6	6.5
Source: Bank website

RBL Bank

After IndusInd Bank, RBL Bank is the only bank among the private-sector lenders that is also offering an interest rate of 6.00% to the general public and 6.50% to senior citizens on deposits of less than Rs 3 Cr maturing in 12 months to less than 24 months.

Period of Deposit	Interest Rates p.a.	Senior Citizen Interest Rates p.a.
7 days to 14 days	3.25%	3.75%
15 days to 45 days	3.75%	4.25%
46 days to 90 days	4.00%	4.50%
91 days to 180 days	4.50%	5.00%
181 days to 240 days	5.00%	5.50%
241 days to 364 days	5.25%	5.75%
12 months to less than 24 months	6.00%	6.50%
Source: Bank Website, w.e.f. September 01, 2021