A fixed deposit is one of the easiest ways to grow your money. An initial lump sum deposit earns you yearly interest. Compounding allows this money to grow over time into a sizable sum.
Savings for post-retirement are common. Many people invest money in FDs to address their immediate demands, even a few times. Today, we'll tell you about five banks that offer the highest rates on 3-year FDs.
AU Small Finance Bank
On a three-year fixed deposit, you are receiving a return of 7.50% in this case. The quarterly compound return will be 12497% at the same time.
DCB Bank
You will receive a 7.50 percent annual return from DCB Bank and a 12,497 percent quarterly compound return.
Bandhan Bank
The Bandhan Bank will pay you 7% interest on a 3-year fixed deposit. The compound quarterly return, in this case, is 12314 percent.
City Union Bank
Here, you receive a 7% yearly return. The return compounded quarterly is 12314%.
Karur Vysya Bank
Like the previous two banks, Karur Vysya Bank will also offer you a 7% annualized return and a 12314% quarterly compounded return.