Bank fixed deposits (FDs) continue to be popular investment products not just among senior citizens, who are looking at guaranteed income, but also among investors who can’t stomach risk. For Instance, saving for your child’s education that is 15 years away through FDs may not be effective as the post-tax interest rate of an FD may not give you a real return (return that is above inflation). But if you plan to take a holiday in two years, a FD can help. Before choosing FD you should compare the interest rates on offer. Here is a list of banks that offer the highest FD rates for deposits up to ₹1 crore over various tenures.

Source: Mint June 09, 2020 11:48 UTC