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Planning to invest in fixed deposits? Check 5 banks offering higher returns on 5-year FDs

New Delhi: Early this week, the Reserve Bank of India (RBI) increased the repo rate, in what could be good news for investors of fixed deposits (FDs). Following the move by the RBI, several public and private lenders have announced a hike in fixed deposit interest rates.

Here’s the list of 5 banks offering higher returns on fixed deposit investments:

Zee Media Bureau|

Updated:May 07, 2022, 05:02 PM IST

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IndusInd Bank

IndusInd Bank is offering Indus Tax Saver Scheme (5 years) providing a 6.50%.

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RBL Bank

Investors can get a 6.30% interest rate with RBL Bank’s 5 years fixed deposits.

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DCB Bank

DCB Bank is currently offering an interest rate of 6.25% on fixed deposit investments maturing in five years.

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IDFC First Bank

IDFC First Bank is also offering a higher interest rate at 6.25% on term deposits with a maturity period of five years.

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Karur Vysya Bank

Investors can get interest rates at 5.80% on Karur Vysya Bank FDs with 5 year maturity period.

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Banks that have increased FD interest rates

Bandhan Bank, Kotak Mahindra, Jana Small Finance, Bank of Baroda, and ICICI Bank are among the few banks that have increased interest rates on fixed deposits -- a move that will attract more investors towards FD investments.