Know Which Bank in India Pays a Good Rate of Interest

Well there are several nationalized and private players offering fixed deposit investment schemes to depositors. Again, fixed deposit interest rates depend on several factors including the tenure, the kind of payouts you are looking at, i.e. monthly/annually/quarterly and of course, the type of FD that you are choosing and so on. Interest rates are also governed by inflation rates and market conditions. For example, after demonetization, most banks in India had excess liquidity and hence reduced their fixed deposit interest rates almost immediately.

Find out Here about Fixed Deposit Interest Rate and How it Calculated

You have to compare interest rates and choose accordingly depending on the FD scheme which suits you and which smaller banks give higher FD rates.

You can also opt the Bajaj Finance FD scheme which gives you anywhere between 8.05-8.30% as interest rates on fixed deposits.