Everyone wants to invest their money in a place where they can get secure and guaranteed returns. Fixed deposits (FD) are a great option as the returns are fixed and there is no risk of losing money. The interest rates on FDs depend on the bank, and it’s important for investors to choose a bank offering higher interest rates compared to others. Here are some banks offering the highest interest rates on 1-year FDs as of December 2024:
Read More: Atal Pension Yojana (APY): Invest ₹210 per month to secure a monthly pension of ₹5000 for seniors
Highest FD Interest Rates for 1-Year Deposits (December 2024):
Central Bank of India: 7.45%
Punjab and Sind Bank: 7.45%
Bank of Maharashtra: 7.40%
Union Bank of India: 7.40%
Indian Overseas Bank: 7.30%
Corporate FD Options:
Manipal Housing Finance: 8.25%
Shriram Finance: 7.59% (Additional 0.50% for senior citizens)
Conclusion:
By choosing the right plan from these banks and financial institutions, you can maximize your returns on investment. Fixed deposits offer a guaranteed return and are a safe way to secure your capital with interest accrued over time.
