Reserve Bank of India (RBI) Has not cut the repo rate for the 11th consecutive time. However, there is every expectation of a repo rate cut in the monetary policy of February. In such a situation, this is the best time to do FD. Banks are currently paying heavy interest on FD. And after the reduction in repo rate the interest rate will decrease. In such a situation, if you are thinking of making FD, then we are telling you about those banks which are giving up to 8% interest on 1 year FD.
Bandhan Bank
Bandhan Bank is offering interest at the rate of 8.05% to common citizens on its FD maturing in one year.
IndusInd Bank
RBL Bank
RBL Bank is offering interest at the rate of 7.5% to common citizens on its FD maturing in one year.
Karnataka Bank is offering interest at the rate of 7.25% to common citizens on its FD maturing in one year.
yes bank
Yes Bank is also offering interest at the rate of 7.25% on its FD maturing in one year.
DCB Bank
DCB Bank is offering interest at the rate of 7.1% to common citizens on its FD maturing in one year.
Kotak Mahindra Bank
Kotak Mahindra Bank is also offering interest at the rate of 7.1% to common citizens on its FD maturing in one year.
Don't delay in making FD now
Banking sector experts say that due to RBI not cutting the repo rate, very good interest is being given on FDs of different tenures. However, this phase will not last long. Next year RBI may cut the repo rate by 100 basis points. After this the interest on FD will decrease. It is a profitable deal to book FD before this. Right now many banks are giving strong returns on FD.
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