Highest returns on fixed deposit investment schemes in 2019
In today’s world it is now very important to safeguard your money against any kind of unforeseen circumstances. There are many schemes in which a person can invest for maximizing their wealth. The idea of investing is such that it will ensure your money’s safety and will also facilitate growth for those funds. Fixed Deposits are also known as term deposits which is a type of investment where the interest rate is guaranteed that it will not change for tenure of the investment. Each bank offers different rate of interest on fixed deposits. The fixed deposit interest rates in India are determined by many factors such as:
- Lending rate of bank
- Bank repo rate
- Economic policy of India
- Fiscal policy of India
- Lending ability of bank
The following are some of the top fixed deposits schemes in 2019:
Bank of India
- Double benefit term deposit is a fixed deposit scheme given by Bank of India.
- The Fixed deposit of Bank of India has a high rate of return of 6.60% to 6.65% because the rate of interest is compounded on a quarterly basis.
Central Bank of India
- The minimum investment amount in this scheme is of Rs. 5, 000 in semi- urban and rural centres and the maximum investment amount for this RS.10, 000 in metro and urban areas.
- The rate of interest offered in this scheme is 6.50% p.a.
State Bank of India
- The state bank of India offers flexi fixed deposits under the flexi deposit scheme.
- The minimum deposit requirement in this scheme is of RS.5, 000 and the maximum tenure of this scheme is of 5 years.
- The individuals can choose to increase their fixed deposits through flexible instalments.
- The Allahabad banks offers the Flexi fixed deposit scheme with maximum returns to the customers without letting them sacrifice their funds.
- The minimum deposit required for this scheme is of RS.25, 000.
- The Allahabad bank also offers the Double deposit plan scheme, and the scheme is available in all branches of the Allahabad bank and also pays higher returns. The rate of interest in this scheme ranges from 4.00% to 6.00% p.a.
- Bajaj Finance is a leading financial company in India and also has the highest range of interest rate. For choosing any fixed deposit the Bajaj Finance is the best option to choose from.
- The Bajaj Finance offers the special tenor scheme where the minimum deposit is of RS. 1,00,000.
- The rate of interest for the fixed deposit scheme at Bajaj Finance is 8.05%.
- The interest will be payable at monthly, quarterly, half-yearly or annual basis.
- The tenure of this fixed deposit scheme is for 15 months.
- Both Cumulative and non- cumulative options for fixed deposit are available.
Fixed Deposit Interest Rates in India – 2019
The fixed deposit rates will vary from bank to bank and the plan that one opts for will also be of great importance. Higher the rate of interest for fixed deposit higher returns will come. Compare the list of Banks and NBFCs and choose the right one accordingly.
|Name of the bank / NBFC||Interest rates||Tenure|
|Axis bank||3. 50% to 7. 50% p.a.||7 days to 10 years|
|Bajaj Finserv||8. 00% to 8. 60% p.a.||12 months to 60 months|
|Bandhan co-operative bank||7. 65% p.a.||Above 18 months to less than 2 years|
|Bank of Baroda||5. 00% to 7. 20% p.a.||7 days to 10 years|
|Bank of Maharashtra||6. 50% to 6. 60% p.a.||1 year to 5 years|
|Canara bank||6. 25% to 6. 70% p.a.||7 days to 10 years|
|Central bank of india||5. 30% to 7. 05% p.a.||7 days to 10 years|
|DHFL||9. 00% p.a.||36 months|
|Federal bank||7. 30% p.a.||1 year to 549 days|
|HSBC bank||6. 00% p.a.||400 days|
|HUDCO||7. 50% p.a.||24 months|
|ICICI bank||4. 50% to 7. 50% p.a.||7 days to 10 years|
Regardless of the company you choose, Fixed Deposits is sure to offer you high returns on the amount invested by you. Bajaj Finance, however, is one of the top companies offering additional benefits to customers apart from the basic features offered by banks.