Fixed deposits (FDs) are a reliable investment option. People have been investing in them for a long time. There is no risk of losing money in an FD, and you also get guaranteed returns. Today, we will find out which bank is offering the highest returns on a 3-year FD.

Which bank is offering the highest returns?

Bank    Return Rate?

State Bank of India    6.30%

Punjab National Bank    6.30%

Bank of India    6.25%

Bank of Baroda    6.25%

Central Bank of India    6.25%

According to the table above, the major public sector banks in the country, such as the State Bank of India and Punjab National Bank, are offering the best returns. Both of these banks are offering 6.30 percent interest on a 3-year FD. Bank of India, Central Bank of India, and Bank of Baroda are offering a 6.25 percent return on a 3-year FD.

Advantages of investing in FDs

Safe Investment - Your money is completely safe in an FD. There is no risk of losing your money. You also get guaranteed returns according to the chosen tenure.

Good Returns - The return you get on your FD investment depends on the tenure. If you invest in an FD for a longer period, you have a higher chance of getting maximum returns. Therefore, before investing, check the interest rate on the bank's website or with a bank employee.

Guaranteed Income - Since FDs are a safe investment option, you get guaranteed returns. This way, you can earn a guaranteed income.

Portfolio Diversification - FDs are also a good option for portfolio diversification. A good portfolio includes both safe and risky schemes.

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