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There are a number of banks and Non-Banking Financial Companies (NBFC) that offer good Fixed Deposit (FD) rates, that go up to 8.75% per annum (p.a.), for an investment period of 2 years. 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 2018:
|Best FD Rates for 2 years 2018|
|Bank||Regular FD Rates (per annum)||Senior Citizen FD Rates (per annum)|
|Fincare Small Finance Bank||8.75%||9.25%|
|Suryoday Small Finance Bank||8.50%||8.75%|
|ESAF Small Finance Bank||8.00%||8.50%|
|Utkarsh Small Finance Bank||7.85%||8.35%|
|LIC Housing Finance Ltd||7.40%||7.50%|
|Lakshmi Vilas Bank||7.15%||7.65%|
*Interest rates are subject to change and can be revised from time to time
Fincare Small Finance is one of the most highest-paying banks in the small finance bank sector.
Suryoday Small Finance Bank offers different interest payout options and has a wide range of time deposit options to choose from.
KTDFC is an NBFC that offers a high rate of return on 2-year time deposit schemes.
Another NBFC, the bank is a good option for those who want to earn a good rate of return on their investment.
This is another good option for parking funds for a 2-year period.
LIC is another NBFC that offers a great rate of return and a number of other benefits.
IDFC Bank provides good interest rates on all time deposit schemes and there are a wide range of tenure options to choose from.
Repco Bank provides different investment options when it comes to fixed deposits.
LVB is a good option to put money and earn a good rate of return in 2 years.
Last but not the least, ICICI Bank is also a good option to choose for a 2-year investment.