Best 2022 FD Interest Rates for Below Rs.2 Crore for 3-Year Tenure

Best 2022 FD Interest Rates for Below Rs.2 Crore for 3-Year Tenure

CRC BRC પરીક્ષા જાહેરાત 2022-23

The Interest rates are subject to change and are revised by the banks and financial institutions from time to time

3-year Fixed Deposit key highlightsShriram City pays the highest interest rate of 7.50% p.a. for the 3-year FD opened by the general public.
When 3-year term deposits are opened by senior citizens, Shriram City pays the highest interest rate of 7.80% p.a.

List of 10 best FD schemes for 3 years
1. Fincare Small Finance Bank

Fincare offers attractive rates of interest on the 3-year tenure
They offer 6.50% p.a. to the general public.
A number of flexible interest payout options and premature withdrawal is provided by the bank

2. KTDFCA

lucrative rate of 6.00% p.a. is paid for term deposits opened for a period of 3 years
For senior citizens, the interest rate offered is 6.25% p.a.
TDS is applicable on all FD schemes
They offer Periodic Interest Payment Schemes (PIPS) and Money Multiplier Schemes (MMS)

3. Shriram City

4. Mahindra Finance

The best FD rate is offered for the Samruddhi Cumulative Deposit scheme, where the rate of interest is 6.20% p.a. with regard to general citizens
For senior citizens, the interest rate offered is 0.25% higher for Samruddhi Cumulative Deposit Scheme
The interest on these deposits are compounded on an annual basis
Various interest payout options available

5. Sundaram Finance

Promising FD schemes with attractive interest rates and other benefits
An interest rate of 6.61% p.a. is offered to the general public who open a 3-year term deposit with the company
Senior citizens are provided an interest of 7.11% p.a.
Premature withdrawal and nomination facility available

6. LVB

The bank offers a deposit interest rate of 6.00% p.a. to the general public for opening a term deposit having an investment period of 3 years
An interest rate of 6.50% p.a. is offered to senior citizens
1% penalty fee applicable in case of premature withdrawal
Penalty not applicable for deposits above Rs.1 crore

7. Equitas Small Finance Bank

8. Yes Bank

9. Canara Bank

Canara Bank offers an interest rate of 5.70% p.a. on FDs for a period of 3 years
An interest rate of 6.20% p.a. is offered to senior citizens
Premature withdrawal facility is available
1% penalty fee applicable on premature withdrawal of deposits below Rs.2 crore

10. Punjab and Sind Bank

The rate of interest paid on Punjab and Sind Bank FDs for a 3-year tenure is 5.60% p.a.
Individuals who fall in the senior citizen bracket can earn an interest rate of 6.10% p.a.

FAQs on 3 Year Tenure FD Rates

When will my FD interest amount get credited into my account?This will depend on the interest payout that you have decided at the time of booking the FD. It can be on a monthly, quarterly, or annual basis in which case it will be credited into your savings account. If you have chosen the reinvestment option, then the interest gets compounded over time, being added to the principal amount, and will be credited into your savings account only when the FD matures.
Will I get the same interest amount if I prematurely withdraw my FD?Most banks levy a penalty ranging from 1% to 2% on the rate of interest if you prematurely close your FD.
Should I pay TDS on the interest earned on my fixed deposits?You have to pay 10% Tax Deducted at Source (TDS) only if the interest amount on your FD for a financial year is more than Rs.10,000 (for AY 2019-20) or more than Rs. 40,000 (for AY 2020-21). If you do not provide a PAN card when booking your FD, then there is a fixed TDS of 20%.