<p>Fixed Deposit (FD) is a safe way of saving without market risks. An FD lets you have a safe investment along with gaining interest on it. </p><p>In FD one has to deposit a lumpsum amount in the bank for a fixed period of time on a fixed rate of interest. Once the deposit reaches the maturity term, the investor will receive the original amount of investment with the interest. </p><p>FDs are considered beneficial for achieving long-term financial goals as they are considered stable and assure growth in the investment.</p><p>Let us take a look at banks that offer highest FD interest rates for a one-year period term.</p>.<p>IndusInd Bank tops the list offering 7 per cent interest rate, for a fixed period of two years. The investment approximately after two years would grow from a lakh to Rs 1,14,000.</p>.<p>Axis bank, HDFC, Mahindra Bank offer similar interest rates on their Fixed Deposits. These three banks offer 6.6 per cent rate for two-year deposits. If you calculate the amount for 1 lakh, the amount that you get on hand once the FD matures would be Rs 1,13,200.</p>.<p>Offering an interest rate of 6.40 per cent, ICICI Bank is listed third. For a two-year FD in ICICI Bank, a deposit of Rs 1 lakh may upto Rs 1,12,800, after reaching the maturity date.</p>.<p>Canara Bank and Union Bank, for a two-year period offer a 6.5 per cent interest rate. 1 lakh deposited for two years here, will mature to Rs 1,13,000.</p>.<p>State Bank of India (SBI) offers and interest rate of 6.45 per cent after two years. If Rs 1 lakh is invested, the amount would become Rs 1,12,900 after maturing.</p>
<p>Fixed Deposit (FD) is a safe way of saving without market risks. An FD lets you have a safe investment along with gaining interest on it. </p><p>In FD one has to deposit a lumpsum amount in the bank for a fixed period of time on a fixed rate of interest. Once the deposit reaches the maturity term, the investor will receive the original amount of investment with the interest. </p><p>FDs are considered beneficial for achieving long-term financial goals as they are considered stable and assure growth in the investment.</p><p>Let us take a look at banks that offer highest FD interest rates for a one-year period term.</p>.<p>IndusInd Bank tops the list offering 7 per cent interest rate, for a fixed period of two years. The investment approximately after two years would grow from a lakh to Rs 1,14,000.</p>.<p>Axis bank, HDFC, Mahindra Bank offer similar interest rates on their Fixed Deposits. These three banks offer 6.6 per cent rate for two-year deposits. If you calculate the amount for 1 lakh, the amount that you get on hand once the FD matures would be Rs 1,13,200.</p>.<p>Offering an interest rate of 6.40 per cent, ICICI Bank is listed third. For a two-year FD in ICICI Bank, a deposit of Rs 1 lakh may upto Rs 1,12,800, after reaching the maturity date.</p>.<p>Canara Bank and Union Bank, for a two-year period offer a 6.5 per cent interest rate. 1 lakh deposited for two years here, will mature to Rs 1,13,000.</p>.<p>State Bank of India (SBI) offers and interest rate of 6.45 per cent after two years. If Rs 1 lakh is invested, the amount would become Rs 1,12,900 after maturing.</p>
