After 5 days of decline, a rise was seen in the stock market on October 28. But there is still a risk that there may be further selling in the market. In such a situation, if we talk about the safest investment option then it is FD. In the case of FD i.e. Fixed Deposit, the person’s biggest worry is that the returns will be less. Therefore, today we have brought a list of FD options giving more than 9 percent returns to end your tension.
9.5% interest is available on FD here
Portfolio investment platform Smallcase is now offering high interest rate fixed deposit (FD) schemes for investors, where they can avail interest rates up to 9.5%. Smallcase has launched this offer in partnership with Shivalik Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, South Indian Bank and North East Small Finance Bank, which is applicable for a tenure of up to 60 months. On this digital platform, users can make FD with minimum amount ranging from ₹1,000 to ₹10 lakh.
Security is provided by RBI
All FDs offered on Smallcase are recognized by the Reserve Bank of India (RBI) and insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). Under this insurance, coverage of up to Rs 5 lakh per account is ensured in each bank, due to which investors are guaranteed the safety of their deposited money. Smallcase has made its platform completely digital and user-friendly, in which investors can book FD without any paperwork and manage their investments easily.
These banks are also giving more than 9 percent interest
Senior citizens are getting interest rates ranging from 7% to 9.5% in this scheme, which varies according to the bank and the scheme. Senior citizens also get an additional premium of 0.2% to 0.7%, making the returns on their FDs even more attractive. North East Small Finance Bank is offering an interest rate of 9.5% while Suryoday Small Finance Bank and Utkarsh Small Finance Bank are offering interest rates of up to 9.1% for senior citizens.
