Which bank has the highest interest rate for fixed deposits? Check details here

When deciding on a safe investment option, bank fixed deposits (FDs) are considered one of the best instruments. These plans aim to provide maximum returns at minimal risk.

FDs are among the most popular savings instruments and typically provide assured returns. You also have a flexible pay-out option to get the interest pay-out monthly, quarterly, half-yearly or annually. You also have the option to reinvest interest income and take compounding benefits. These FDs are commonly known as cumulative or reinvestment FDs. When you select such type of FDs, you get the interest paid on maturity only. The interest is compounded quarterly and reinvested with the invested principal amount during the investment period.

You don't have to visit a bank or post office to open an FD account. You can open an FD account online with all the banks listed below. You can compare FD rates, and with a few clicks, you transfer funds online to the respective bank you choose to open an FD account and get the receipt without visiting the bank branch.

Here's a list of banks which offers the highest interest rate for FDs.