There are a number of banks and Non-Banking Financial Companies (NBFC) that offer good Fixed Deposit (FD) rates on the 2-year tenure. The interest rate offered goes up to 8.75% p.a. Term deposits are a great investment option as they come with a wide range of benefits such as guaranteed returns, premature withdrawal facility, loan, and nomination facility, among others. All senior citizens are eligible to avail an additional rate of interest on time deposits.
The following is the revised list of 10 banks and financial institutions that pay the highest interest on fixed deposits with a 2-year tenure in 2020:
|Best FD Rates for 2 years 2020|
|Bank||Interest rates for General Public (p.a.)||Interest rates for Senior Citizens (p.a.)|
|Fincare Small Finance Bank||8.75%||9.25%|
|Suryoday Small Finance Bank||8.50%||9.00%|
|ESAF Small Finance Bank||8.00%||8.50%|
|Utkarsh Small Finance Bank||8.00%||8.50%|
|LIC Housing Finance Limited||7.90%||8.15%|
|Lakshmi Vilas Bank||7.50%||8.10%|
*Interest rates are revised from time to time by banks and financial institutions at their discretion
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