Highest FD interest rates: These banks offer best fixed deposit rates between 8% and 9% (2024)

Many banks now offer interest rates above 8% to senior citizens. However, very few come close to this rate when it comes to interest rates for regular citizens. Here are banks which offer interest rates of up to 9% to regular citizens. (Many big banks including SBI, HDFC Bank, PNB are still way behind these banks when it comes to FD interest rates.)

Here are banks offering interest rates between 8-9% to regular citizens for amounts below Rs 2 crore with premature withdrawal facility.

Also read: 3 banks offering above 9% interest rate on fixed deposits to senior citizens

Unity Small Finance Bank

Unity Small Finance Bank offers the highest interest rate of 9% to regular citizens on tenure of 1001 days. The SFB offers 8.75% on tenure of 501 days and 181-201 days. The rates are applicable from February 15, 2023.
A premature penalty of 1.00% will be applied to the rate in effect for the time the deposit was held by the bank, or the contracted rate, whichever is lower, for any premature withdrawal of a fixed deposit or recurring deposit.

Utkarsh Small Finance Bank

Utkarsh SFB offers the highest interest rate of 8.25% on tenure of 700 days. According to the website, “Penalty on premature withdrawal is 1 % (not applicable for closure within 7 days) i.e. 1 % less than the card rate as on the date of deposit, for the period for which the deposit has remained with the Bank or 1% less than the contracted rate, whichever is lower.”

Fincare Small Finance Bank

Fincare Small Finance Bank offers the highest interest rate of 8.41% on tenure of 1000 days. The bank offers 8.25% on tenure of 36 months 1 day to 42 months and 8.11% on tenure of 750 days.

Suryoday Small Finance Bank

Suryoday Small Finance Bank offers the highest interest rate 8.51% on tenure of 999 days and 8.01% on tenure above 1 Year 6 months to 2 years.
According to the Suryoday SFB, “In case of premature withdrawal, the interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for the incomplete month on actual number of days.”

Shivalik Small Finance Bank

Shivalik Small Finance Bank offers the highest interest rate of 8.15% on tenure of 18 months to less than 24 months for balances between RS 25 lakh to Rs 2 crore. THE SFB offers 8% on tenure of 18 Months to Less than 24 months.

BankInterest rateTenure
Unity Small Finance Bank
9%1001 days
Shivalik Small Finance Bank8%18 Months to less than 24 months.
Suryoday Small Finance Bank8.51%999 days
Fincare Small Finance Bank8.41% 1000 days
Utkarsh Small Finance Bank8.25%700 days

Other banks
Other banks such as SBI offer the highest interest rate of 6.75%. HDFC Bank and ICICI Bank offers highest interest rate of 7% to their regular customers.

Highest FD interest rates: These banks offer best fixed deposit rates between 8% and 9% (2024)
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