Financial institution fastened deposits (FDs) proceed to be fashionable funding merchandise not simply amongst senior residents, who’re in search of assured revenue, but in addition amongst buyers who can’t abdomen danger. However over-exposure to FDs isn’t good, and you want to assess your asset allocation and objectives to determine how a lot cash it’s best to park in them. As an example, saving in your youngster’s larger training that’s 15 years away by means of FDs is probably not efficient because the post-tax rate of interest of an FD could not offer you an actual return (return that’s above the speed of inflation), however if you happen to plan to take a vacation in two years, an FD will help. Earlier than selecting an FD, it’s best to evaluate the rates of interest on supply. Here’s a record of banks that provide the best FD charges for deposits as much as ₹ 1 crore over numerous tenures.
Supply: Live Mint