Great News for Depositors – This Bank Offers 9% Interest on Fixed Deposits

Bank Deposit: In the recent monetary policy review meeting, RBI did not make any changes in the report. But there is a chance that the interest rates will decrease in the coming period. If this happens, interest rates on fixed deposits are also likely to be affected. But now let's know about some small finance banks that are offering high interest on deposits. The Reserve Bank of India (RBI) has left interest rates unchanged for the 10th consecutive time. After this, banks, small finance banks are giving high interest on FD. Taking advantage of this opportunity, you can also get low interest by investing in FD. Now let us know about a small finance bank. This bank offers 9% interest on 3 year FD. At the same time, it gives 7% interest on one year FD.

North East Small Finance Bank:

North East Small Finance Bank (NESFB) is offering 9% interest on 3 years FD to general citizens. Meanwhile, one year FD offers interest at 7% and 5 year FD at 6.25%. A fixed deposit offers the investor a fixed rate of interest on the total amount deposited in the bank for a fixed period of time. This can be determined by using a fixed deposit return calculator. Premature fixed deposit withdrawal means the investor withdraws the fixed deposit before the maturity date. Interest rates on FDs are high due to multiple rate hikes by RBI in 2022. Interest rates vary based on FD tenure, investment amount, bank, repo rate fluctuations