According to the experts investors must keep their exposure limited in FDs of small finance banks so that it will fall within the purview of DICGC cover of Rs 5 lakh rs including principal and interest.
India Business News: Several banks have updated their fixed deposit (FD) interest rates in April 2024, offering varying rates depending on the deposit plan. These revisions are part of the banks' regular updates to their deposit interest rates. It's important to understand that while existing deposits will maintain their agreed-upon interest rates, new deposits and renewals will be subject to the revised rates.
HDFC Bank offers 7.25% interest on deposits lasting 18 to 21 months, with 7.15% available for tenures between 2 years 11 months to 35 months. Here s a list of top banks offering FD interest rates above 7%.
HDFC Bank offers highest interest rate of 7.25 percent on its deposits with tenure of 18 to 21 months. The bank also offers 7.15 percent on fixed deposits with tenure between 2 years 11 months to 35 months