Categories: Blogs

Banks Fixed Deposits (FD) Interest Rates 2022

Click to expand

Major Indian Banks Fixed Deposits (FD) Interest Rates below Rs.2 crore

[table id=13 /]

Highest Interest Giving Banks in 1 Year FD

[table id=14 /]

Highest Interest Giving Banks in 2 Year FD

[table id=15 /]

Highest Interest Giving Banks in 3 Year FD

[table id=16 /]

Highest Interest Giving Banks in 5 Year FD

[table id=17 /]

Flexi Fixed Deposit

Flexi fixed deposit is a fixed deposit that offers flexibility and convenience to the customers. Flexi Fixed deposits are a combination of FD (Fixed Deposit) & RD (Recurring Deposit). This will ensure that customers can get higher interest rates and liquidity.

Benefits and Features

Following are the Benefits and Features of Flexi Fixed Deposit

1. Attractive Interest: Highest interest rates than saving bank account

2. Flexible tenure: Different banks are different tenure for Flexi Fixed Deposit. Before investing account holders can select their convenient tenure for the Flexi Fixed Deposit.

3. Investment amount: Investors can choose the convenient amount for the Flexi Fixed Deposit. These amounts are different and depend on the banks.

4. Premature withdrawal: Most banks are allowed premature withdrawal of the Flexi Fixed Deposit.

5. Loan facility: Account holders can generally avail of loans, subject to policies implemented by the bank.

6. Easy to open: Opening a Flexi Fixed Deposit is easy and hassle-free. Most of the banks are following a fast and transparent process.

7. Auto-renewal: Banks generally allow auto-renewal of Flexi Fixed Deposit. Ensuring account holders don’t have to worry about the renewal date.

How Flexi Fixed Deposit different from normal Fixed Deposit:

Flexi Fixed Deposit offers certain benefits over normal Fixed deposits. Primarily it is due to flexibility and liquidity that they manage to offer. In a normal fixed deposit individual deposits a certain amount of money for a particular period of time. This deposit will give a fixed interest depending upon the period of the deposit. Withdrawing amounts before maturity is generally not allowed and the same can be allowed by some banks by deducting some interest rate. Overcome this problem by allowing account holders to withdraw some money from their savings or their current account which is generally merged with Flexi FD.

Auto sweep account

Combined benefits of saving account, current account & FD. For an auto sweep account, the account holder needs to be kept a minimum amount in their account. This minimum amount depends upon the bank policy and criteria.

Liquidity: Very easy to withdraw and deposit the amount

Threshold Limit: Account holders can be set the threshold limit. The extra amount after the threshold limit automatically converts to the sweep account. The account holder can earn extra interest for this sweeping account than the saving bank account. The minimum threshold limit is Rs 25,000 to Rs 1 lakhs

Minimum FD maturity period: Generally 15 days to 45 days Max FD maturity period: 1 year to 5 years.