There are many banks in India that offer more than 9% p.a. on Fixed Deposits (FDs). Term deposits are an ideal investment option, especially for those who are looking for benefits like high liquidity, premature withdrawal facilities, nomination facility, loan/overdraft, etc. It is not difficult to find banks that pay a good rate of interest and there are a few that pay a high rate such as Mahaveer Bank, ESAF Small Finance Bank and Suryoday Small Finance Bank.
Given below is a revised list of banks that pay over 9% p.a. in 2019:
|FDs paying more than 9%|
|Bank||Tenure||Regular FD Rate (per annum)||Senior Citizen FD Rate (per annum)|
|Mahaveer Bank||More than 2 years to 5 years||9.50%||10%|
|Mahaveer Bank||More than 5 years||9.00%||9.50%|
|ESAF Small Finance Bank||1 year||9.00%||9.50%|
|Suryoday Small Finance Bank||More than 2 years to 3 years||8.75%||9.00%|
*Interest rates are subject to change and can be revised from time to time
Read more about: Best FD Interest Rates for 1 Year 2019
Read more about: Best FD Interest Rates for 3 Year 2019
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