Higher interest rates than Sukanya Samriddhi Yojana? These six banks offer best interest rates. What should you do?

livemint.com:

Some banks provide more attractive interest rates on Fixed Deposits (FDs) than the Sukanya Samriddhi Yojana (SSY) offers. This means that investors, especially those looking for fixed returns, may find FDs more lucrative than the government-backed savings scheme for the girl child. While SSY offers tax benefits and a higher interest rate than regular savings accounts, FDs from certain banks may provide even higher returns, making them an appealing choice for investors seeking to grow their savings."

For deposits maturing between 700 days to less than two years, the bank provides an interest rate of 8.25%. For tenures ranging from 2 years up to 3 years, the interest rate offered is 8.50%. Additionally, for deposits above three years to less than four years, the bank offers an interest rate of 8.25%. Notably, Utkarsh Small Finance Bank stands out with an attractive interest rate of 8.50% for FDs maturing between two and three years.

700 Days to less than 2 Years 8.25%

2 Years up to 3 Years 8.50%

Above 3 Years to less than 4 Years 8.25%

Ujjivan Small Finance Bank offers competitive interest rates on FDs with varying tenures. For deposits maturing in 15 months, the bank provides an interest rate of 8.50%. Additionally, for deposits with tenures ranging from 2 months to less than 15 months and 15 months from 1 day to 560 days, the interest rates offered are 8.25%.

2 months to <15 months 8.25%

15 months 8.50%

15 Months 1 Day to 560 Days 8.25%

Jana Small Finance Bank offers attractive interest rates on Fixed Deposits (FDs) for different tenures. For deposits maturing in 365 days, the bank provides an interest rate of 8.5%.

365 days- 8.5%

> 1 Year — 2 Year(730 Days) 8.25%

Equitas Small Finance Bank provides an interest rate of