However, with no changes in the interest rates with the rising inflation, fixed deposits have become an unattractive investment option. Most of the public and private banks are offering a really low rate of interest when it comes to fixed deposits. But there are a few small finance banks that are offering up to a seven per cent interest rate on fixed deposits maturing in a year. Senior citizens can avail a 7 per cent interest rate on their 1-year fixed deposits. Suryoday Small Finance BankSuryoday Small Finance Bank is providing a 6.50 per cent annual interest rate to its customers investing in one year FD scheme of the bank.

Source: dna July 23, 2021 10:30 UTC