FD Interest Rates Compared: YES Bank vs Axis Bank vs IDFC First Bank vs DCB Banks vs RBL Bank

For the longest time, people have preferred bank fixed deposit schemes over other investment tools in the market. While the trend of stock investment and mutual funds has been on a rise in the past few years, FDs still remain the go-to option for risk-averse investors in the market. Unlike equity and mutual funds where the returns depend on market fluctuation, FDs offer a guaranteed stable rate of return. The stability factor has made FDs a preferred choice for people to keep their hard-earned money safe while expecting some return in the process.

However, it also must be considered that with the recent decline in interest rates, overexposure to FDs may not be a wise choice. So, before committing to a long-term FD, you should always explore the pros and cons while assessing the return offered by various banks. If you have been looking for long-term FD (more than 5-year tenure) investments, here’s a list of leading banks offering the highest interest rates for deposits of up to Rs 1 crore.

YES Bank

Yes Bank offers the highest rate on deposits of up to Rs 1 crore for a minimum of 5 years and investors get an annual return of 6.25 per cent. With a return rate of 4.75 to 5 per cent on deposits for 6 months to 1 year, the bank also offers one of the highest interest rates for the minimum tenures.

IDFC First Bank

With an interest offering of 6.25 per cent on FD investment for over 5 years, IDFC First bank is number two on the list.

DCB Banks

For all FD investments with a minimum tenure of 3 to 5 years, DCB banks offer an interest rate of 5.95 per cent. However, there are no other benefits for senior citizens like other lenders.

Axis Bank

The interest rate offered by Axis Bank on investments of under Rs 2 crore for 5 to 10 years of tenure is 5.75 per cent. However, the offering rises to 6.5 per cent for senior citizen customers.

RBL Bank

The RBL bank offers an interest rate of 5.75 per cent on all investments with a lock-in period of a minimum of five years. There’s a provision of an additional 0.5 per cent interest rate for senior citizen customers opting for FDs.

For making the correct investment choice, compare rates as per your need while accounting for the risk factors (if any).

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