FD interest rates: These 7 banks offer the highest rates on fixed deposits of 3 years. Checking details | Mint

Reserve Bank of India’s Monetary Policy Committee (MPC) on Wednesday reduced the Repo rate for the second consecutive time by 25 basis points. With the Repo rate now lower by 50 basis points to 6 percent per year, banks are expected to lower the fixed deposit (FD) interest rates sooner than later. It is therefore recommended to close your savings in fixed deposits (FDs) for a medium to long term if you intend to invest in safe instruments. Here we list 3-year FDS of Top Seven Banks: I. State Bank of India (SBI): The state engineer offers 6.75 percent to investors on 3-year fixed deposit to general citizens and 7.25 percent to senior citizens. Ii. Bank of Baroda (Bob): This state engineer offers 7.15 percent and 7.65 percent respectively to general citizens and senior citizens at 3 years of fixed deposits with effect from 7 April 2025. III. IDFC Bank: This private bank offers 6.8 percent per year interest to general citizens and 7.3 percent to senior citizens on three years of fixed deposits. Banks Regular (%) Senior (%) State Bank of India (SBI) 6.75 7.25 Bank of Bank of Baroda 7.15 7.65 IDFC Bank 6.8 7.3 HDFC Bank 7 7.5 ICICI Bank 7 7.5 Kotak Mahindra Bank 7 7.5 Union Bank of India 6.7 7.2 (Source: Bank website) IV. HDFC Bank: The largest private bank offers 7 percent and 7.5 percent to general and senior citizens respectively on their fixed three -year deposits. V. ICICI Bank: This private bank offers the same interest rates as HDFC Bank at three years of fixed deposits, ie 7 percent to general citizens and 7.5 percent to senior citizens. VI. Kotak Mahindra Bank: This private bank also offers the same interest rates. It offers 7 percent to general citizens and 7.5 percent to senior citizens. Vii. Union Bank of India: This state engineer offers 6.7 percent to general citizens on an amount of less than £ 3 and 7.2 percent to senior citizens. on a three -year FD. Meanwhile, it is important to note that investment in fixed deposits (FDS) yields yields and earned revenue on fixed deposits is taxable according to the appropriate sheet rates. Therefore, it is recommended to invest only in fixed deposits for insured returns and for the ease it offers to withdraw at any time, unlike in other financial instruments such as Public Provident Fund (PPF). Visit here for all updates for personal finance first published: 10 Apr 2025, 03:22 PM IST