These ‘ four’ banks are providing over 8% interest rates on FD as global trend of interest rate cuts begins

Bandhan Bank: Offers interest rates between 3% and 8.05%, depending on the deposit tenure and individual credit risk.

RBL Bank: Provides an attractive rate of 8.10% per annum.

SBM Bank India: Offers a competitive return of 8.25% per annum.

YES Bank: Also provides a solid rate of 8% per annum.

In addition, senior citizens (aged 60 and above) can benefit from an additional 0.5% interest rate on their fixed deposits.

How to Open a Bank FD

Individuals can open a bank FD both online and offline. To open an FD account offline, customers need to visit their bank branch and complete the KYC (Know Your Customer) requirements. Most banks allow FDs to be opened with a minimum deposit of Rs 100, though this amount may vary. Fixed deposits can be made for durations ranging from 7 days to 10 years, and while funds can be withdrawn before maturity, penalties may apply.