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One of the most commonly procured investment options by individuals in India due to the fact that it is one of the safest options available, Fixed Deposits guarantee the growth of idle savings into a healthy amount of money. Fixed Deposit Schemes allow investors to deposit a certain amount of money over a fixed period of time such as a year to around 10 years.
In addition to the above, applicants also receive a fixed amount of interest on their deposit based on the markets and also tenure of their deposit scheme. Longer the tenure, higher is the amount of interest availed. Various banks and financial institutions offer Fixed Deposits with varying rates of interest. The following list looks at the top 10 Fixed Deposit Schemes in India for a tenure of 4 years.
There are many high-interest yielding fixed deposit options for 4 years in the market. Compared to 1, 2 or 3-year deposits, these type of 4-year fixed deposits are likely to provide higher returns. Let us explore term deposits that offer the highest rates of interest.
Given below are 10 of the best fixed deposits for a tenure of 4 years:
Mahaveer Bank offers an interest rate of 9.5% on fixed deposits for 4 years.
| Interest rate | Amount of investment | Tenure |
| 9.5% | Less than Rs.1 crore | 4 year |
Shriram Transport Finance Co. Ltd. is a well-reputed company that was set up in 1979. They offer a wide range of financial products. At present, they provide an interest rate of 8.15% on non-cumulative fixed deposits for a period of 4 years. The interest is compounded on a yearly basis.
| Interest rate | Amount of investment | Tenure |
| 8.15% | Up to Rs.25 lakh | 4 year |
3. Shriram City Union Finance Co. Ltd.
A Non-Banking Financial Company (NBFC) that provides various financial services, Shriram City Union Finance Co. Ltd. also deals in fixed deposits. Their non-cumulative fixed deposit comes at an interest rate of 8.15 for a 4-year tenure. Interest is calculated annually.
| Interest rate | Amount of investment | Tenure |
| 8.15% | Up to Rs.25 lakh | 4 year |
Nainital Bank is a well-rated bank that provides various financial products including fixed deposits. They provide a competitive interest rate of 7.75% for fixed deposits with a tenure of 4 years.
| Interest rate | Amount of investment | Tenure |
| 7.75% | Up to Rs.1 crore | 4 year |
An interest rate of 7.25% is offered by Gruh Finance Limited for 4-year cumulative deposits. Senior citizens can avail an additional 0.25% interest. Interest is computed on an annual basis.
| Interest rate | Amount of investment | Tenure |
| 7.25% | Up to Rs.1 crore | 4 year |
IDFC Bank does provide flexibility and does not charge a penalty in case of premature withdrawal. The bank offers an interest rate of 7.2% on fixed deposits for 4 years. All senior citizens will get an additional interest of 0.5%.
| Interest rate | Amount of investment | Tenure |
| 7.2% | Less than Rs.1 crore | 4 year |
The Samruddhi Fixed Deposit scheme of Mahindra Finance offers 7.55% on cumulative fixed deposits. The interest is compounded annually.
| Interest rate | Amount of investment | Tenure |
| 7.55% | Up to Rs.1 crore | 4 year |
ICICI Home Finance offers an interest rate of 7.1%. ICICI Home Finance has a good credit rating.
| Interest rate | Amount of investment | Tenure |
| 7.1% | Up to Rs.1 crore | 4 year |
SVC Bank offers an interest rate of 7% for all fixed deposits for 4 years. For senior citizens, the interest rate will be 7.15%.
| Interest rate | Amount of investment | Tenure |
| 7% | Up to Rs.15 lakhs | 4 year |
A 7% rate of interest is given for all 4 years fixed deposits at Janata Bank. Senior citizens get an interest rate of 7.25%.
| Interest rate | Amount of investment | Tenure |
| 7% | Up to Rs.1 crore | 4 year |
*Please note that all interest rates for senior citizens will be higher. As per the discretion of the bank, a certain higher percentage of interest will be provided for senior citizens.
* All interest rates may be subject to change
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