Most banks and non-banking finance institutions (NBFCs) issue fixed deposits for 3-year tenors. These FDs are offered at attractive interest rates ranging from 6.00% to 9.00% depending on the bank/NBFCs.

 

Read on to learn more about the interest rates offered on 3-year FDs.

Interest Rate for Fixed Deposit of 3 Years

Here are the interest rates offered by various banks and NBFCs on 3-year FDs:  

Bank/NBFC

Regular Citizens (p.a.)

Senior Citizens (p.a.)

AU Small Finance Bank

7.50%

8.00%

Bajaj Finance

8.05%

8.30%

Mahindra Finance

8.05%

8.30%

PNB Housing Finance

7.85%

8.15%

Ujjivan Small Finance Bank

7.20%

7.70%

YES Bank

7.25%

8.00%

Axis Bank

7.10%

7.60%

Bank of India

6.50%

7.00%

Indian Bank

6.25%

6.75%

ICICI Bank

7.00%

7.50%

Punjab National Bank

6.50%

7.00%

Bank of Baroda

6.50%

7.15%

Union Bank of India

6.50%

7.00%

Canara Bank

6.80%

7.30%

IDFC FIRST Bank

7.00%

7.50%

State Bank of India

6.50%

7.00%

HDFC Bank

7.00%

7.50%

Federal Bank

7.00%

7.50%

Bank of Maharashtra

6.00%

6.50%

Shriram Finance

8.50%

9.00%

Indian Overseas Bank

6.50%

7.00%

Punjab Sind Bank

6.00%

6.50%

Karur Vysya Bank

7.00%

7.40%

Disclaimer: The aforementioned interest rates are as of 20th February 2024, and are subjec to change at the issuer’s discretion. 

 

Use an FD calculator to quickly determine the potential returns earned on an FD offered by any of the above issuers. By inputting the principal amount, expected interest rate and tenor, you can easily estimate the interest earnings. On Bajaj Markets, explore a range of FDs provided by banks and NBFCs, with interest rates of up to 8.85% p.a. 

FD Interest Calculator

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Disclaimer

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.

FAQs

What are the current interest rates on 3-year FDs?

Depending on the bank or NBFC, investors could earn up to 9% p.a. on their fixed deposits. Browse the interest rates offered by different FD issuers to make an informed decision.

What is the minimum amount required to open an FD?

On Bajaj Markets, the minimum deposit amount required to book an FD is ₹1,000.

Can I withdraw my FD before it matures?

Yes. Premature withdrawal is allowed for certain FDs, but it may be subject to penalties.

Can I get a loan against my FD?

Yes, you can leverage your FDs to avail loans while still earning interest on the pledged collateral.

Can I get a monthly interest payout on my FD?

Yes, you can opt for monthly interest payout on your FD.

Is the interest earned on FDs taxable?

Yes, the interest earned on FDs is added to your total income and taxed based on the applicable income tax slab.

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