5 Banks That Give You Returns Up To 7.50% On 1-2 Year Fixed Deposits

In comparison to a regular savings account, a fixed deposit (FD) is one of the best investment opportunities since it pays a higher rate of interest. For a set period of time, interest is paid against the deposited amount which is fixed across the chosen tenure and will not be affected by potential adjustments on rates by the bank or market fluctuations. The interest rate is determined by the type of lender, maturity period, and depositor, which can be either non-senior citizens or senior citizens. Interest rates are usually higher for senior citizens compared to the general public. While investing in fixed deposits the best benefits you bet beyond the interest rate is liquidity. You can quickly liquidate your FD to obtain funds in the event of an emergency. As a result, you can completely rely on returns in order to achieve your financial goals. Fixed deposit schemes have a variety of maturity options that investors can choose which is most convenient for them. In terms of duration, one can invest in an FD for a period ranging from seven days to ten years. So if you want to invest in fixed deposits for a period of 1 to 2 years to meet your short-term goals, check the top 5 banks mentioned below for the best interest rates.