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Best Fd Interest Rates With 1 Year Tenure
The FDs can be of tenure ranging from 7 Days to 20 Yr . The ROI for different schemes starts from 8.50% for the general public and 9.00% for senior citizens. The min amount required to open a Fixed Deposit in such scheme is Rs.1,000
Name of Schemes | For General Citizen (p.a.) | For Senior Citizen (p.a.) |
|---|---|---|
| Jana Small Finance Bank Domestic Term Deposits FD | 8.50% | 9.00% |
| Bandhan Bank Domestic Bulk Term Deposits FD | 8.35% | -- |
| Bandhan Bank Domestic Bulk Term Deposits FD | 8.30% | -- |
| Bandhan Bank Domestic Bulk Term Deposits FD | 7.90% | -- |
| Bandhan Bank Domestic Term Deposits FD | 7.85% | 8.35% |
| Canara Bank NRE FD | 7.40% | -- |
| IDFC First Bank NRO FD | 7.40% | -- |
| Kotak Mahindra Bank Domestic Bulk Term Deposits FD | 7.30% | -- |
| Axis Bank Domestic Bulk Term Deposits FD | 7.25% | 7.75% |
| DCB Bank Domestic Term Deposits FD | 7.25% | 7.75% |
FD Rates for 1 Year
A fixed deposit is a haven for those who wish to invest their money and receive competitive interest rates. Most well-known banks and financial organisations provide fixed deposits with adjustable investment terms and guaranteed returns upon maturity. One short-term tenure that offers a fixed deposit customer an alluring rate of return is the 1-year fixed deposit.
1 Year Fixed Deposit Highlights
The highlights of the FD for one year are:
- It has the best FD interest rates for one year
- Senior citizens enjoy an additional rate of interest
- Equitas Small Finance Bank Domestic Term Deposits offers the highest FD rates for one year.
Benefits of 1-year Fixed Deposit
The fixed deposit for one year has the following benefits:
- The FD interest rates for one year provide substantial liquidity
- It promises transitory savings
- You can avail of a loan of up to 95% of the amount deposited. This eliminates the need for paperwork or a guarantor.
- At the start of the 1-year fixed deposit, there is a nomination provision.
- If you break FD before maturity, you will be charged with an interest rate 1% lower than the current rate
- The Government considers the funds as security
- For services based on non-fund, it can be used as margin money.
How to Calculate your 1-Year Fixed Deposit Interest Rates?
You can calculate the FD interest rate for one year with the help of an online fixed deposit calculator. You will be required to enter the FD’s principal amount, interest rate and tenure.
However, if you were to calculate the 1-year fixed deposit interest rate manually, the following formula would be used:
Principal * {(1 + Rate of Interest /100)^ Tenure}] – Principal
How to choose the best one year fixed deposit for you?
To select the best one-year fixed deposit, you must keep the following in mind:
- Determine your financial goals
- Thoroughly study the types of 1-year fixed deposit and check which one aligns with your goals
- Review the credibility of the bank or financial institution offering the FD
What Makes Urban Money Ideal for Opening a Fixed Deposit Investment?
Urban Money becomes the obvious choice for an investor when making a fixed deposit investment because of the following reasons:
- The website is easy to navigate
- It is a trustworthy medium for fixed deposits
- It is cost-effective as well as time-saving
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FAQs
Which bank is best for FD for one year?
Equitas Small Finance Bank offers the best FD rates for one year.
Which bank is best for FD 2022 for one year?
IndusInd Bank is best for FD 2022 for one year.
What are the factors that affect FD interest rates?
FD tenure, credit rating and bank or financial institution are the few factors that affect FD interest rates.
What are the types of Fixed deposits?
The types of FD are – Cumulative, Non-Cumulative, tax-saver, domestic, regular, bank, senior-citizens, Flexi and special fixed deposits.
What happens to my Fixed Deposit if the interest rate goes up or down?
The effect of fluctuations in the interest rate depends upon the type of fixed deposit you have chosen.
