It’s the season of fixed deposits as top banks are offering interest rates of around 7.50% for a 3-5 year term. There are small finance banks offering upto 9.30% per annum. With India’s retail inflation still above 6%, which is beyond the Reserve Bank of India’s comfort zone, repo rate cuts are still far away. With no possibility of repo rate cuts in the near future, the loan interest rates will continue to stay at elevated levels. With higher loan rates, banks will continue to have more rooms for high fixed deposit interest rates. Let’s check out here in greater detail as to why it is the best time to invest in a fixed deposit.

Reasons That Make Fixed Deposits More Viable in Today’s Times

FD Interest Rates of Upto 9.30% Per Annum for 3-5 Year Deposits

Fixed deposit interest rates are going upwards with banks offering high interest rates to the general public. Senior citizens will get an additional 0.50% on their deposits. 

Fixed Deposit Interest Rates of Top Banks for an Amount Less Than 3 Cr)

A 7-10% Salary Increment Call for More Safe Deposits

Salary increments have not been great to speak of. Most employees are receiving an annual salary hike of around 7-10%. For many working in junior levels, such a hike won’t translate into significant numbers. For example, if someone is receiving a monthly salary of INR 25,000 and he receives a hike of 8%, his overall salary will rise by only INR 2,000 to INR 27,000. For these people, parking money in an instrument that offers assured returns of above 7-8% in a 3-5 year period is critical.

The Introduction of BharatFD - A Defining Moment in the Fixed Deposit Landscape

BharatFD has come at the right time when myths around fixed deposits have gained prominence. Its comparison tool and in-depth analysis into fixed deposits help many make an informed financial decision. It showcases fixed deposit interest rates of top banks as per different periods, lets you open a fixed deposit with any bank you want, and ensures an ecosystem where assurance takes precedence.